Avid (AVID) Earning Somewhat Negative Press Coverage, Report Finds

Headlines about Avid (NASDAQ:AVID) have trended somewhat negative this week, according to Accern. The research group identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Avid earned a coverage optimism score of -0.03 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 45.7340582653301 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the news articles that may have impacted Accern’s scoring:

Shares of AVID stock traded up $0.02 during trading hours on Wednesday, reaching $4.52. The company had a trading volume of 225,955 shares, compared to its average volume of 289,986. The firm has a market capitalization of $195.37, a P/E ratio of -13.70 and a beta of 1.84. Avid has a 1-year low of $3.99 and a 1-year high of $7.65. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of -0.76.

Avid (NASDAQ:AVID) last issued its quarterly earnings results on Thursday, March 15th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.25). The company had revenue of $107.30 million for the quarter, compared to analyst estimates of $108.53 million. Avid had a negative return on equity of 3.59% and a negative net margin of 3.24%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS.

Several equities analysts have recently commented on the company. ValuEngine downgraded Avid from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research downgraded Avid from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, Dougherty & Co downgraded Avid from a “neutral” rating to a “sell” rating and set a $4.50 target price on the stock. in a research report on Thursday, December 7th.

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Avid 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 product line that is used to edit film, television programming, news broadcasts, commercials, and other video content; Avid shared storage systems and Avid Interplay asset management solutions, which provide complete network, storage, and database solutions to enable users to simultaneously share and manage media assets throughout a project or organization.

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