Avid Technology Inc. (NASDAQ: AVID) is -15.54% lower on its value in year-to-date trading and has touched a low of $20.83 and a high of $38.99 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AVID stock was last observed hovering at around $26.65 in the last trading session, with the day’s gains setting it 0.86% off its average median price target of $37.50 for the next 12 months. It is also 48.09% off the consensus price target high of $53.00 offered by 6 analysts, but current levels are 8.3% higher than the price target low of $30.00 for the same period.
Currently trading at $27.51, the stock is 2.30% and 4.12% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.22 million and changing 3.23% at the moment leaves the stock -9.12% off its SMA200. AVID registered -24.67% loss for a year compared to 6-month loss of -15.92%.
The stock witnessed a 8.99% gain in the last 1 month and extending the period to 3 months gives it a -24.84%, and is 3.07% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.36% over the week and 4.53% over the month.
Avid Technology Inc. (AVID) has around 1405 employees, a market worth around $1.21B and $416.20M in sales. Current P/E ratio is 26.61 and Fwd P/E is 15.94. Profit margin for the company is 11.40%. Distance from 52-week low is 32.07% and -29.44% from its 52-week high. The company has generated returns on investments over the last 12 months (111.00%).
Avid Technology Inc. (AVID) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Avid Technology Inc. (AVID) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.20, where 2 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Avid Technology Inc. is expected to release its quarterly report on 11/10/2022.The EPS is expected to grow by 262.60% this year.
Avid Technology Inc. (AVID) Top Institutional Holders
The shares outstanding are 44.82M, and float is at 41.44M with Short Float at 2.37%.
Avid Technology Inc. (AVID) Insider Activity
A total of 110 insider transactions have happened at Avid Technology Inc. (AVID) in the last six months, with sales accounting for 60 and purchases happening 50 times. The most recent transaction is an insider sale by CORDINER TOM J. A.,the company’sChief Revenue Officer & SVP. SEC filings show that CORDINER TOM J. A. sold 9,923 shares of the company’s common stock on Jun 15 at a price of $25.63 per share for a total of $0.25 million. Following the sale, the insider now owns 0.23 million shares.
Avid Technology Inc. disclosed in a document filed with the SEC on May 16 that Asmar Christian (Director) bought a total of 250,000 shares of the company’s common stock. The trade occurred on May 16 and was made at $24.73 per share for $6.18 million. Following the transaction, the insider now directly holds 7.13 million shares of the AVID stock.
Still, SEC filings show that on Mar 15, CORDINER TOM J. A. (Chief Revenue Officer & SVP) disposed off 19,682 shares at an average price of $28.83 for $0.57 million. The insider now directly holds 199,767 shares of Avid Technology Inc. (AVID).
Avid Technology Inc. (AVID): Who are the competitors?
The company’s main competitors (and peers) include Adobe Inc. (ADBE) that is trading -35.58% down over the past 12 months and Apple Inc. (AAPL) that is 6.00% higher over the same period. Ballantyne Strong Inc (BTN) is -36.27% down on the 1-year trading charts.