Avid Technology (NASDAQ:AVID) Updates FY19 Earnings Guidance
Avid Technology (NASDAQ:AVID) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $0.50-$0.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.61. The company issued revenue guidance of $405-$415 million, compared to the consensus revenue estimate of $410.47 million.
Several equities research analysts recently commented on the company. Maxim Group reissued a buy rating and set a $14.00 target price on shares of Avid Technology in a report on Tuesday, November 5th. ValuEngine raised Avid Technology from a sell rating to a hold rating in a report on Friday. Zacks Investment Research cut Avid Technology from a buy rating to a hold rating in a report on Thursday, October 24th. Finally, BidaskClub raised Avid Technology from a hold rating to a buy rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $8.69.
Shares of NASDAQ:AVID opened at $7.74 on Friday. The stock’s 50 day moving average price is $6.38 and its 200 day moving average price is $7.67. Avid Technology has a 12 month low of $4.37 and a 12 month high of $10.79. The stock has a market cap of $277.92 million, a price-to-earnings ratio of 64.50, a PEG ratio of 1.50 and a beta of 1.91.
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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