Analysts predict that Avid Technology, Inc. (NASDAQ:AVID) will post earnings per share (EPS) of $0.15 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Avid Technology’s earnings, with estimates ranging from $0.11 to $0.19. Avid Technology also reported earnings of $0.15 per share during the same quarter last year. The business is expected to report its next quarterly earnings report after the market closes on Thursday, March 21st.
On average, analysts expect that Avid Technology will report full year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from $0.12 to $0.19. For the next fiscal year, analysts anticipate that the business will report earnings of $0.70 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Avid Technology.
Get Avid Technology alerts:Several equities research analysts recently commented on the company. Zacks Investment Research raised Avid Technology from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Thursday, January 24th. BidaskClub cut Avid Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 18th. BWS Financial lowered shares of Avid Technology from a “hold” rating to a “sell” rating and set a $5.00 price target on the stock. in a research report on Friday, November 16th. Dougherty & Co upgraded shares of Avid Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, January 30th. Finally, ValuEngine upgraded shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.50.
NASDAQ:AVID traded up $0.04 during midday trading on Friday, hitting $4.79. 67,421 shares of the stock were exchanged, compared to its average volume of 116,131. Avid Technology has a one year low of $4.26 and a one year high of $6.99. The stock has a market cap of $196.29 million, a price-to-earnings ratio of 11.98, a PEG ratio of 0.94 and a beta of 1.73.
A number of institutional investors have recently bought and sold shares of AVID. Royce & Associates LP grew its position in Avid Technology by 31.9% in the third quarter. Royce & Associates LP now owns 1,507,181 shares of the technology company’s stock worth $8,938,000 after buying an additional 364,438 shares during the last quarter. JPMorgan Chase & Co. grew its position in Avid Technology by 163.6% in the third quarter. JPMorgan Chase & Co. now owns 145,870 shares of the technology company’s stock worth $865,000 after buying an additional 90,530 shares during the last quarter. RMB Capital Management LLC acquired a new position in Avid Technology in the fourth quarter worth approximately $311,000. Squarepoint Ops LLC acquired a new position in Avid Technology in the fourth quarter worth approximately $224,000. Finally, Two Sigma Investments LP grew its position in Avid Technology by 300.2% in the fourth quarter. Two Sigma Investments LP now owns 46,611 shares of the technology company’s stock worth $221,000 after buying an additional 34,964 shares during the last quarter. Hedge funds and other institutional investors own 54.55% of the company’s stock.
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 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.
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