Analysts Set $5.00 Target Price for Avid Technology, Inc. (AVID)
Shares of Avid Technology, Inc. (NASDAQ:AVID) have received an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1 year consensus price target of $5.00 for the company and are expecting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given Avid Technology an industry rank of 165 out of 265 based on the ratings given to related companies.
Several research firms recently commented on AVID. ValuEngine lowered Avid Technology from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research raised Avid Technology from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th.
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new position in Avid Technology in the second quarter valued at $105,000. Petrus Trust Company LTA purchased a new position in shares of Avid Technology during the second quarter worth about $105,000. Voya Investment Management LLC grew its holdings in shares of Avid Technology by 25.6% during the second 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. Dynamic Technology Lab Private Ltd purchased a new position in shares of Avid Technology during the third quarter worth about $109,000. Finally, Trexquant Investment LP purchased a new position in shares of Avid Technology during the third quarter worth about $130,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.
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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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