Avid Technology, Inc. (AVID) Receives $5.50 Average Target Price from Brokerages

Shares of Avid Technology, Inc. (NASDAQ:AVID) have been given a consensus recommendation of “Hold” by the six analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.50.

A number of equities analysts recently commented on the stock. BWS Financial lowered shares of Avid Technology from a “hold” rating to a “sell” rating and set a $5.00 price objective for the company. in a research note on Thursday. BidaskClub upgraded shares of Avid Technology from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 19th. ValuEngine upgraded shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research report on Friday, March 15th. Finally, Dougherty & Co upgraded shares of Avid Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, January 30th.

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Avid Technology by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,887,306 shares of the technology company’s stock worth $11,191,000 after buying an additional 20,989 shares in the last quarter. Royce & Associates LP lifted its position in Avid Technology by 1.5% in the 4th quarter. Royce & Associates LP now owns 1,530,248 shares of the technology company’s stock worth $7,269,000 after buying an additional 23,067 shares in the last quarter. Geode Capital Management LLC lifted its position in Avid Technology by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 333,558 shares of the technology company’s stock worth $1,584,000 after buying an additional 15,678 shares in the last quarter. Teton Advisors Inc. lifted its position in Avid Technology by 1.4% in the 4th quarter. Teton Advisors Inc. now owns 180,042 shares of the technology company’s stock worth $855,000 after buying an additional 2,500 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Avid Technology by 163.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,870 shares of the technology company’s stock worth $865,000 after buying an additional 90,530 shares in the last quarter. Institutional investors own 57.74% of the company’s stock.

Avid Technology stock traded down $0.22 during midday trading on Thursday, reaching $6.96. The stock had a trading volume of 582,678 shares, compared to its average volume of 439,273. Avid Technology has a twelve month low of $4.26 and a twelve month high of $7.58. The firm has a market capitalization of $292.33 million, a price-to-earnings ratio of 43.50, a P/E/G ratio of 1.34 and a beta of 1.79.

Avid Technology (NASDAQ:AVID) last posted its quarterly earnings data on Thursday, March 14th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. Avid Technology had a negative net margin of 2.58% and a negative return on equity of 4.14%. The firm had revenue of $112.70 million during the quarter, compared to analyst estimates of $110.43 million. During the same quarter last year, the business posted $0.15 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Avid Technology will post 0.52 earnings per share for the current year.

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 product line that is used to edit film, television programming, news broadcasts, commercials, and other video content; Avid shared storage systems and Avid Interplay asset management solutions, which provide complete network, storage, and database solutions to enable users to simultaneously share and manage media assets throughout a project or organization.

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