AVID has been the topic of several other reports. ValuEngine raised Avid Technology from a “sell” rating to a “hold” rating in a report on Friday, November 8th. B. Riley initiated coverage on Avid Technology in a research note on Friday, November 15th. They issued a “buy” rating and a $10.00 price target for the company. Zacks Investment Research cut Avid Technology from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Maxim Group restated a “buy” rating and set a $14.00 price objective on shares of Avid Technology in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Avid Technology presently has a consensus rating of “Hold” and a consensus price target of $8.95.
AVID opened at $7.69 on Friday. The company’s 50 day moving average price is $7.28 and its two-hundred day moving average price is $7.64. The firm has a market capitalization of $331.05 million, a price-to-earnings ratio of 64.08, a PEG ratio of 2.11 and a beta of 1.91. Avid Technology has a fifty-two week low of $4.37 and a fifty-two week high of $10.79.
Avid Technology (NASDAQ:AVID) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Avid Technology had a negative net margin of 0.46% and a negative return on equity of 10.84%. The company had revenue of $93.46 million for the quarter. As a group, research analysts expect that Avid Technology will post 0.37 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its stake in Avid Technology by 505.5% in the second quarter. Meeder Asset Management Inc. now owns 5,468 shares of the technology company’s stock valued at $51,000 after buying an additional 4,565 shares during the period. Zacks Investment Management acquired a new stake in shares of Avid Technology during the 2nd quarter worth approximately $105,000. SG Americas Securities LLC bought a new stake in shares of Avid Technology in the 2nd quarter valued at $114,000. First Quadrant L P CA bought a new stake in shares of Avid Technology in the 3rd quarter valued at $77,000. Finally, Millennium Management LLC bought a new stake in shares of Avid Technology in the 3rd quarter valued at $96,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.
Avid Technology Company Profile
Avid Technology, Inc develops, markets, sells, and supports software, hardware, and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer, which is used to edit video content, such as television programming, commercials, and films; Avid NEXIS shared storage systems; and Maestro product line solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows.
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