Avid Technology (NASDAQ:AVID) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Avid Technology (NASDAQ:AVID) from a hold rating to a buy rating in a research note issued to investors on Saturday, November 9th, BidAskClub reports.

AVID has been the topic of a number of other reports. ValuEngine raised Avid Technology from a sell rating to a hold rating in a research note on Friday, November 8th. Maxim Group restated a buy rating and issued a $14.00 price target on shares of Avid Technology in a research report on Tuesday, November 5th. Finally, Zacks Investment Research lowered Avid Technology from a buy rating to a hold rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Avid Technology presently has a consensus rating of Hold and a consensus price target of $8.95.

Shares of AVID traded down $0.06 during trading hours on Friday, reaching $7.72. The stock had a trading volume of 221,276 shares, compared to its average volume of 428,177. Avid Technology has a 12 month low of $4.37 and a 12 month high of $10.79. The company has a market capitalization of $334.93 million, a price-to-earnings ratio of 64.33, a P/E/G ratio of 2.16 and a beta of 1.91. The firm has a 50-day simple moving average of $7.20 and a 200 day simple moving average of $7.65.

Avid Technology (NASDAQ:AVID) last announced its earnings results on Thursday, November 7th. The technology company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Avid Technology had a negative return on equity of 10.84% and a negative net margin of 0.46%. The firm had revenue of $93.46 million during the quarter. Sell-side analysts expect that Avid Technology will post 0.37 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new position in Avid Technology during the 3rd quarter worth $96,000. Squarepoint Ops LLC boosted its position in shares of Avid Technology by 22.4% in the 3rd quarter. Squarepoint Ops LLC now owns 155,489 shares of the technology company’s stock worth $962,000 after purchasing an additional 28,489 shares in the last quarter. Barclays PLC boosted its position in shares of Avid Technology by 24.6% in the 3rd quarter. Barclays PLC now owns 38,613 shares of the technology company’s stock worth $239,000 after purchasing an additional 7,615 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Avid Technology by 5.0% in the 3rd quarter. California State Teachers Retirement System now owns 44,158 shares of the technology company’s stock worth $273,000 after purchasing an additional 2,105 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Avid Technology by 5,623.9% in the 3rd quarter. AlphaMark Advisors LLC now owns 62,390 shares of the technology company’s stock worth $386,000 after purchasing an additional 61,300 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

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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Analyst Recommendations for Avid Technology (NASDAQ:AVID)

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