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Avid Technology, Inc. (NASDAQ:AVID - Get Rating) has been given an average rating of "Moderate Buy" by the eight research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $37.60.

Several research analysts have weighed in on AVID shares. TheStreet downgraded shares of Avid Technology from a "b-" rating to a "c" rating in a report on Wednesday, May 25th. Jefferies Financial Group lowered their price objective on Avid Technology from $33.00 to $30.00 in a research note on Monday, May 23rd. JPMorgan Chase & Co. started coverage on Avid Technology in a research report on Wednesday, July 6th. They set an "overweight" rating and a $33.00 target price on the stock. StockNews.com cut Avid Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 14th. Finally, Northland Securities upped their target price on shares of Avid Technology from $48.00 to $53.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 25th.Avid Technology Trading Down 0.9 %

NASDAQ:AVID opened at $25.37 on Thursday. Avid Technology has a 12 month low of $20.83 and a 12 month high of $37.31. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 24.39 and a beta of 1.21. The firm has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $29.30.

Avid Technology (NASDAQ:AVID - Get Rating) last issued its earnings results on Tuesday, August 2nd. The technology company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. Avid Technology had a negative return on equity of 35.68% and a net margin of 11.44%. During the same period last year, the business posted $0.17 earnings per share. Equities analysts predict that Avid Technology will post 1.12 earnings per share for the current fiscal year. Insider Activity at Avid Technology

In other Avid Technology news, SVP Tom J. A. Cordiner sold 9,923 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $25.63, for a total value of $254,326.49. Following the completion of the sale, the senior vice president now owns 229,016 shares in the company, valued at approximately $5,869,680.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.70% of the stock is owned by company insiders. Hedge Funds Weigh In On Avid Technology

A number of institutional investors have recently bought and sold shares of AVID. Principal Financial Group Inc. grew its holdings in shares of Avid Technology by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,621 shares of the technology company's stock worth $231,000 after acquiring an additional 473 shares during the period. Credit Suisse AG boosted its position in shares of Avid Technology by 2.2% during the second quarter. Credit Suisse AG now owns 26,419 shares of the technology company's stock valued at $685,000 after purchasing an additional 562 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in Avid Technology by 41.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,149 shares of the technology company's stock worth $70,000 after purchasing an additional 627 shares in the last quarter. Arizona State Retirement System lifted its position in Avid Technology by 6.9% during the second quarter. Arizona State Retirement System now owns 9,761 shares of the technology company's stock valued at $253,000 after buying an additional 633 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Avid Technology by 6.4% during the 2nd quarter. Legal & General Group Plc now owns 13,320 shares of the technology company's stock valued at $345,000 after buying an additional 807 shares in the last quarter. 75.83% of the stock is owned by institutional investors. Avid Technology Company Profile (Get Rating)

Avid Technology, Inc, together with its subsidiaries, develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer, a cloud-enabled solution used to edit video content; Avid NEXIS shared storage systems; Maestro solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows; AirSpeed 5000 and AirSpeed 5500 on-air server solutions; and MediaCentral, a media production suite.See AlsoGet a free copy of the StockNews.com research report on Avid Technology (AVID)3 Payroll Software Makers Set For Growth In 2023PENN Entertainment Stock is Reset and Ready to ReboundNYSE Stocks Give Investors a Variety of Quality Options Zoom Video Communications Valuation Is Realigned With Reality The J.M. Smucker Company Proves Why Staples Are Outperforming 

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