ValuEngine upgraded shares of Avid (NASDAQ:AVID) from a hold rating to a buy rating in a research note released on Thursday.
Separately, Zacks Investment Research downgraded shares of Avid from a buy rating to a hold rating in a research report on Friday, January 12th.
Shares of AVID opened at $4.63 on Thursday. Avid has a one year low of $3.99 and a one year high of $7.65. The company has a market cap of $197.45, a price-to-earnings ratio of 11.58 and a beta of 1.91. The company has a debt-to-equity ratio of -0.76, a current ratio of 0.71 and a quick ratio of 0.54.
Avid (NASDAQ:AVID) last announced its quarterly earnings data on Thursday, March 15th. The technology company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.25). Avid had a negative net margin of 3.24% and a negative return on equity of 3.59%. The firm had revenue of $107.30 million for the quarter, compared to analyst estimates of $108.53 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. sell-side analysts anticipate that Avid will post 0.09 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in Avid during the fourth quarter valued at approximately $100,000. Macquarie Group Ltd. acquired a new position in Avid during the fourth quarter valued at approximately $115,000. Gamco Investors INC. ET AL acquired a new position in Avid during the fourth quarter valued at approximately $116,000. Goldman Sachs Group Inc. acquired a new position in Avid during the fourth quarter valued at approximately $118,000. Finally, Tower Research Capital LLC TRC raised its position in Avid by 624.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,027 shares of the technology company’s stock valued at $140,000 after purchasing an additional 22,432 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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