Avid Technology, Inc. (NASDAQ:AVID) has earned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.17.

Several equities analysts recently commented on the company. Maxim Group restated a “buy” rating and set a $14.00 target price on shares of Avid Technology in a research report on Friday, June 7th. BidaskClub cut Avid Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research cut Avid Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Jefferies Financial Group boosted their target price on Avid Technology from $6.50 to $8.50 and gave the stock a “hold” rating in a research report on Friday, June 7th. Finally, ValuEngine cut Avid Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stone Ridge Asset Management LLC boosted its holdings in shares of Avid Technology by 7.5% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 30,030 shares of the technology company’s stock worth $274,000 after purchasing an additional 2,100 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Avid Technology by 86.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the technology company’s stock worth $43,000 after purchasing an additional 2,659 shares in the last quarter. Worth Venture Partners LLC boosted its holdings in shares of Avid Technology by 1.7% in the 2nd quarter. Worth Venture Partners LLC now owns 257,689 shares of the technology company’s stock worth $2,351,000 after purchasing an additional 4,202 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Avid Technology by 4.3% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 104,300 shares of the technology company’s stock worth $951,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Avid Technology by 505.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,468 shares of the technology company’s stock worth $51,000 after purchasing an additional 4,565 shares in the last quarter. Hedge funds and other institutional investors own 52.87% of the company’s stock.

Avid Technology stock traded up $0.18 during midday trading on Friday, hitting $6.26. 10,426 shares of the company’s stock were exchanged, compared to its average volume of 597,957. Avid Technology has a 52-week low of $4.37 and a 52-week high of $10.79. The stock has a 50-day moving average price of $8.88 and a two-hundred day moving average price of $7.54. The company has a market cap of $261.20 million, a P/E ratio of 51.67, a PEG ratio of 1.44 and a beta of 1.79.

Avid Technology (NASDAQ:AVID) last posted its earnings results on Monday, August 5th. The technology company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). Avid Technology had a negative return on equity of 11.13% and a negative net margin of 0.99%. The business had revenue of $98.70 million for the quarter, compared to analysts’ expectations of $101.29 million. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. Avid Technology’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts expect that Avid Technology will post 0.43 earnings per share for the current year.

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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