A number of other research firms have also recently weighed in on AVID. Maxim Group restated a buy rating and issued a $14.00 price target on shares of Avid Technology in a research note on Friday, June 7th. BidaskClub cut Avid Technology from a strong-buy rating to a buy rating in a research note on Wednesday. Zacks Investment Research cut Avid Technology from a strong-buy rating to a hold rating in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group increased their price target on Avid Technology from $6.50 to $8.50 and gave the company a hold rating in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Avid Technology presently has a consensus rating of Hold and a consensus target price of $8.25.
Shares of Avid Technology stock traded down $0.08 on Thursday, reaching $6.39. 171,285 shares of the company were exchanged, compared to its average volume of 436,278. Avid Technology has a one year low of $4.37 and a one year high of $10.79. The company has a market capitalization of $291.24 million, a price-to-earnings ratio of 53.25, a PEG ratio of 1.60 and a beta of 1.85. The company has a 50-day moving average of $7.50 and a 200 day moving average of $7.75.
Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. grew its holdings in Avid Technology by 505.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,468 shares of the technology company’s stock valued at $51,000 after buying an additional 4,565 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Avid Technology by 86.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the technology company’s stock valued at $43,000 after buying an additional 2,659 shares in the last quarter. Zacks Investment Management acquired a new position in Avid Technology in the 2nd quarter valued at $105,000. SG Americas Securities LLC acquired a new position in Avid Technology in the 2nd quarter valued at $114,000. Finally, Chicago Equity Partners LLC acquired a new position in Avid Technology in the 2nd quarter valued at $151,000. 53.09% of the stock is currently owned by hedge funds and other institutional investors.
About Avid Technology
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.
See Also: What is a recession?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Avid Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Technology and related companies with MarketBeat.com's FREE daily email newsletter.