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Avid Technology Inc. (AVID) – Don’t Believe the Hype: Check The Facts

Avid Technology Inc. (NASDAQ: AVID) is -5.38% lower on its value in year-to-date trading and has touched a low of $19.78 and a high of $33.41 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 $20.47 in the last trading session, with the day’s gains setting it 4.69% off its average median price target of $35.00 for the next 12 months. It is also 47.58% off the consensus price target high of $48.00 offered by 7 analysts, but current levels are -0.64% lower than the price target low of $25.00 for the same period.

Currently trading at $25.16, the stock is 8.18% and -9.67% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.7 million and changing 22.91% at the moment leaves the stock -7.68% off its SMA200. AVID registered -3.60% loss for a year compared to 6-month gain of -8.97%. The firm has a 50-day simple moving average (SMA 50) of $2.75 and a 200-day simple moving average (SMA200) of $21.12.

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The stock witnessed a -14.65% loss in the last 1 month and extending the period to 3 months gives it a -15.60%, and is 23.03% 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 7.85% over the week and 5.80% over the month.

Avid Technology Inc. (AVID) has around 1485 employees, a market worth around $1.11B and $414.60M in sales. Current P/E ratio is 25.26 and Fwd P/E is 12.75. Profit margin for the company is 10.70%. Distance from 52-week low is 27.18% and -24.69% from its 52-week high. The company has generated returns on investments over the last 12 months (99.50%).

Avid Technology Inc. (AVID) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Avid Technology Inc. (AVID) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.30, where 2 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

The EPS is expected to grow by 37.80% this year

Avid Technology Inc. (AVID) Top Institutional Holders

The shares outstanding are 43.81M, and float is at 40.13M with Short Float at 4.19%.

Avid Technology Inc. (AVID) Insider Activity

A total of 71 insider transactions have happened at Avid Technology Inc. (AVID) in the last six months, with sales accounting for 43 and purchases happening 28 times. The most recent transaction is an insider sale by Gayron Kenneth L, the company’s EVP, CFO & Corp Treasurer. SEC filings show that Gayron Kenneth L sold 1,500 shares of the company’s common stock on Mar 06 at a price of $30.49 per share for a total of $45735.0. Following the sale, the insider now owns 0.31 million shares.

Avid Technology Inc. disclosed in a document filed with the SEC on Dec 12 that CLAMAN TIMOTHY (SVP & GM Video & Media) sold a total of 4,462 shares of the company’s common stock. The trade occurred on Dec 12 and was made at $27.30 per share for $0.12 million. Following the transaction, the insider now directly holds 89240.0 shares of the AVID stock.

Still, SEC filings show that on Nov 22, CORDINER TOM J. A. (Chief Revenue Officer & SVP) disposed off 29,978 shares at an average price of $27.90 for $0.84 million. The insider now directly holds 193,136 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 -10.08% down over the past 12 months and Apple Inc. (AAPL) that is 20.08% higher over the same period.

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