Avid Technology, Inc. (NASDAQ:AVID) has been assigned an average broker rating score of 4.00 (Sell) from the two analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation and one has issued a hold recommendation on the company. Avid Technology’s rating score has declined by 33.3% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price objective 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 122 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently weighed in on AVID shares. Zacks Investment Research raised shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Wednesday, November 15th. Dougherty & Co downgraded shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 target price on the stock. in a research note on Thursday, December 7th. Finally, ValuEngine downgraded shares of Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Avid Technology during the 4th quarter worth approximately $100,000. Voya Investment Management LLC increased its stake in 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 buying an additional 4,220 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of Avid Technology in the 4th quarter valued at approximately $115,000. Gamco Investors INC. ET AL purchased a new stake in shares of Avid Technology in the 4th quarter valued at approximately $116,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Avid Technology in the 4th quarter valued at approximately $118,000. 71.45% of the stock is currently owned by hedge funds and other institutional investors.
Avid Technology (AVID) opened at $4.92 on Thursday. Avid Technology has a fifty-two week low of $3.99 and a fifty-two week high of $7.65. The company has a market cap of $195.63, a P/E ratio of -27.33 and a beta of 1.80. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71.
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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