Avid Technology (AVID) Upgraded to Buy by ValuEngine

Avid Technology (NASDAQ:AVID) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, November 15th. Dougherty & Co lowered shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 target price for the company. in a research report on Thursday, December 7th.

Avid Technology (NASDAQ:AVID) traded down $0.18 on Friday, reaching $4.91. 352,188 shares of the company traded hands, compared to its average volume of 381,727. The company has a market capitalization of $195.07, a price-to-earnings ratio of -27.28 and a beta of 1.80. The company has a debt-to-equity ratio of -0.71, a quick ratio of 0.46 and a current ratio of 0.65. Avid Technology has a one year low of $3.99 and a one year high of $7.65.

Avid Technology (NASDAQ:AVID) last posted its quarterly earnings results on Thursday, November 9th. The technology company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The company had revenue of $105.27 million during the quarter, compared to analyst estimates of $102.63 million. Avid Technology had a negative net margin of 1.75% and a negative return on equity of 5.36%. equities analysts predict that Avid Technology will post 0.34 EPS for the current year.

In other Avid Technology news, Director Robert M. Bakish bought 20,000 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was purchased at an average price of $6.00 per share, for a total transaction of $120,000.00. Following the completion of the transaction, the director now directly owns 693,058 shares of the company’s stock, valued at $4,158,348. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 7.50% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Avid Technology during the second quarter worth about $105,000. Voya Investment Management LLC boosted its position in 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 period. Gamco Investors INC. ET AL bought a new position in Avid Technology during the fourth quarter worth about $116,000. Dynamic Technology Lab Private Ltd bought a new position in Avid Technology during the third quarter worth about $109,000. Finally, Alliancebernstein L.P. bought a new position in Avid Technology during the second quarter worth about $140,000. Hedge funds and other institutional investors own 71.75% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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