Avid Technology, Inc. (NASDAQ:AVID) has received an average broker rating score of 4.00 (Sell) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation and one has assigned a hold recommendation 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.
Analysts have set a 1-year consensus target price of $4.75 for the company and are expecting 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 111 out of 265 based on the ratings given to its competitors.
Several research analysts have recently weighed in on AVID shares. Dougherty & Co lowered Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price objective for the company. in a research report on Thursday, December 7th. Zacks Investment Research lowered Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Finally, ValuEngine raised Avid Technology from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd.
Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Avid Technology in the 4th quarter worth about $100,000. Royce & Associates LP raised its position in shares of Avid Technology by 10.4% in the 4th quarter. Royce & Associates LP now owns 634,998 shares of the technology company’s stock worth $3,423,000 after acquiring an additional 60,000 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Avid Technology by 624.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,027 shares of the technology company’s stock worth $140,000 after acquiring an additional 22,432 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Avid Technology by 199.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 27,228 shares of the technology company’s stock worth $146,000 after acquiring an additional 18,142 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in shares of Avid Technology in the 4th quarter worth about $116,000. 71.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Avid Technology (AVID) remained flat at $$4.66 during trading hours on Friday. The company’s stock had a trading volume of 263,607 shares, compared to its average volume of 364,997. The firm has a market capitalization of $191.93, a P/E ratio of -25.89 and a beta of 1.80. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of -0.71. Avid Technology has a 52 week low of $3.99 and a 52 week high of $7.65.
Avid Technology (NASDAQ:AVID) last announced its earnings results on Thursday, November 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $105.27 million during the quarter, compared to analyst estimates of $102.63 million. Avid Technology had a negative return on equity of 5.36% and a negative net margin of 1.75%. research analysts predict that Avid Technology will post 0.34 EPS for the current year.
About Avid Technology
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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