According to Zacks, “Avid Technology, Inc. develops, markets, sells and supports a wide range of software and systems for creating and manipulating digital media content. Digital media are media elements, whether video or audio or graphics, in which the image, sound or picture is recorded and stored as digital values, as opposed to analog signals. The company’s systems are designed to improve the productivity of video and film editors by enabling them to edit moving pictures and sound in a faster, easier, and more cost-effective manner than traditional analog tape-based systems. “
Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Avid Technology from a hold rating to a sell rating in a research report on Thursday, September 12th. BidaskClub upgraded shares of Avid Technology from a hold rating to a buy rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $8.69.
Shares of NASDAQ:AVID opened at $6.54 on Friday. The firm has a market capitalization of $287.38 million, a PE ratio of 54.50, a P/E/G ratio of 1.56 and a beta of 1.90. Avid Technology has a twelve month low of $4.37 and a twelve month high of $10.79. The company has a 50-day moving average price of $6.50 and a two-hundred day moving average price of $7.85.
Avid Technology (NASDAQ:AVID) last issued its earnings results on Monday, August 5th. The technology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $98.70 million for the quarter, compared to the consensus estimate of $101.29 million. Avid Technology had a negative return on equity of 11.13% and a negative net margin of 0.99%. Avid Technology’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) EPS. Sell-side analysts expect that Avid Technology will post 0.43 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Stone Ridge Asset Management LLC lifted its holdings in shares of Avid Technology by 7.5% in the second quarter. Stone Ridge Asset Management LLC now owns 30,030 shares of the technology company’s stock worth $274,000 after buying an additional 2,100 shares in the last quarter. Worth Venture Partners LLC lifted its holdings in shares of Avid Technology by 1.7% in the second quarter. Worth Venture Partners LLC now owns 257,689 shares of the technology company’s stock worth $2,351,000 after buying an additional 4,202 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Avid Technology by 4.3% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 104,300 shares of the technology company’s stock worth $951,000 after buying an additional 4,300 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Avid Technology by 505.5% in the second quarter. Meeder Asset Management Inc. now owns 5,468 shares of the technology company’s stock worth $51,000 after buying an additional 4,565 shares in the last quarter. Finally, Alambic Investment Management L.P. lifted its holdings in shares of Avid Technology by 24.9% in the second quarter. Alambic Investment Management L.P. now owns 27,561 shares of the technology company’s stock worth $251,000 after buying an additional 5,487 shares in the last quarter. 53.02% of the stock is currently owned by hedge funds and other institutional investors.
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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