Shares of Avid Technology, Inc. (NASDAQ:AVID) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $9.17.

A number of brokerages have recently issued reports on AVID. ValuEngine downgraded shares of Avid Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Zacks Investment Research downgraded shares of Avid Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 15th. BidaskClub downgraded shares of Avid Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group increased their price target on shares of Avid Technology from $6.50 to $8.50 and gave the company a “hold” rating in a report on Friday, June 7th. Finally, Maxim Group reiterated a “buy” rating and issued a $14.00 price target on shares of Avid Technology in a report on Friday, June 7th.

Avid Technology stock traded down $0.12 during trading hours on Friday, reaching $6.13. 395,400 shares of the stock were exchanged, compared to its average volume of 591,209. The stock has a market cap of $268.47 million, a P/E ratio of 51.08, a P/E/G ratio of 1.47 and a beta of 1.79. Avid Technology has a 52-week low of $4.37 and a 52-week high of $10.79. The firm’s 50 day moving average is $9.12 and its 200 day moving average is $7.56.

Avid Technology (NASDAQ:AVID) last announced its quarterly earnings data on Monday, August 5th. The technology company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). The firm had revenue of $98.70 million for the quarter, compared to analysts’ expectations of $101.29 million. Avid Technology had a negative return on equity of 11.13% and a negative net margin of 0.99%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. Equities research analysts anticipate that Avid Technology will post 0.43 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Avid Technology by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 333,558 shares of the technology company’s stock valued at $1,584,000 after acquiring an additional 15,678 shares in the last quarter. Bank of America Corp DE boosted its stake in Avid Technology by 21.7% in the fourth quarter. Bank of America Corp DE now owns 33,160 shares of the technology company’s stock valued at $157,000 after acquiring an additional 5,921 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Avid Technology by 86.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the technology company’s stock valued at $43,000 after acquiring an additional 2,659 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Avid Technology in the first quarter valued at approximately $58,000. Finally, Algert Global LLC acquired a new stake in Avid Technology in the first quarter valued at approximately $86,000. Institutional investors and hedge funds own 58.04% of the company’s stock.

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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