Shares of Avid Technology, Inc. (NASDAQ:AVID) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.33.
Several research analysts have issued reports on the company. Maxim Group restated a “buy” rating and set a $14.00 target price on shares of Avid Technology in a research report on Tuesday, May 7th. BidaskClub upgraded Avid Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Zacks Investment Research lowered Avid Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 15th. BWS Financial downgraded shares of Avid Technology from a “hold” rating to a “sell” rating and set a $5.00 price target for the company. in a research note on Thursday, March 21st. Finally, ValuEngine raised shares of Avid Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 15th.
In other news, insider Ryan H. Murray sold 12,000 shares of Avid Technology stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $8.00, for a total transaction of $96,000.00. Following the completion of the sale, the insider now owns 35,995 shares of the company’s stock, valued at $287,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.
AVID opened at $7.75 on Tuesday. The stock has a market capitalization of $325.50 million, a P/E ratio of 64.58, a P/E/G ratio of 1.48 and a beta of 1.72. Avid Technology has a 12 month low of $4.37 and a 12 month high of $10.65.
Avid Technology (NASDAQ:AVID) last announced its earnings results on Monday, May 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Avid Technology had a negative return on equity of 7.54% and a negative net margin of 0.46%. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $100.78 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts expect that Avid Technology will post 0.52 EPS 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, 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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