Avid Technology, Inc. (NASDAQ:AVID) has earned a consensus broker rating score of 4.00 (Sell) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and one has assigned a hold rating to the company. Avid Technology’s rating score has declined by 33.3% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a 12-month consensus price target of $4.75 for the company and are predicting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Avid Technology an industry rank of 120 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently commented on AVID shares. Zacks Investment Research raised shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, November 15th. ValuEngine raised shares of Avid Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Finally, Dougherty & Co cut shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price objective on the stock. in a research note on Thursday, December 7th.
Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Avid Technology during the 4th quarter worth about $100,000. Voya Investment Management LLC boosted its stake in shares of Avid Technology by 25.6% during the 2nd quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock worth $109,000 after purchasing an additional 4,220 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Avid Technology during the 4th quarter worth about $115,000. Gamco Investors INC. ET AL acquired a new stake in shares of Avid Technology during the 4th quarter worth about $116,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Avid Technology during the 4th quarter worth about $118,000. 70.44% of the stock is currently owned by institutional investors.
Shares of Avid Technology (NASDAQ AVID) traded down $0.08 during midday trading on Thursday, reaching $4.76. 173,891 shares of the company were exchanged, compared to its average volume of 322,450. The firm has a market cap of $199.34, a PE ratio of -26.89 and a beta of 1.80. Avid Technology has a 12-month low of $3.99 and a 12-month high of $7.65. The company has a debt-to-equity ratio of -0.71, a quick ratio of 0.46 and a current ratio of 0.65.
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Avid Technology Company Profile
Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.
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