Avid Technology Inc. (NASDAQ: AVID)’s 0.29% Gain This Week Just Tells Us Something New – Marketing Sentinel
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Avid Technology Inc. (NASDAQ: AVID)’s 0.29% Gain This Week Just Tells Us Something New

During the last session, Avid Technology Inc. (NASDAQ:AVID)’s traded shares were 0.34 million, with the beta value of the company hitting 1.25. At the end of the trading day, the stock’s price was $34.17, reflecting an intraday loss of -0.78% or -$0.27. The 52-week high for the AVID share is $40.48, that puts it down -18.47 from that peak though still a striking 66.11% gain since the share price plummeted to a 52-week low of $11.58. The company’s market capitalization is $1.50B, and the average intraday trading volume over the past 10 days was 0.5 million shares, and the average trade volume was 410.29K shares over the past three months.

Avid Technology Inc. (AVID) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. AVID has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.25.

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Avid Technology Inc. (NASDAQ:AVID) trade information

Avid Technology Inc. (AVID) registered a -0.78% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.78% in intraday trading to $34.17 this Wednesday, 11/24/21, hitting a weekly high. The stock’s 5-day price performance is 0.29%, and it has moved by 19.94% in 30 days. Based on these gigs, the overall price performance for the year is 188.11%. The short interest in Avid Technology Inc. (NASDAQ:AVID) is 1.52 million shares and it means that shorts have 3 day(s) to cover.

The consensus price target of analysts on Wall Street is $42.50, which implies an increase of 19.6% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $33.00 and $47.00 respectively. As a result, AVID is trading at a discount of -37.55% off the target high and 3.42% off the low.

Avid Technology Inc. (AVID) estimates and forecasts

Statistics show that Avid Technology Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Avid Technology Inc. (AVID) shares have gone up 10.33% during the last six months, with a year-to-date growth rate more than the industry average at 86.15% against 0.60. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to shrink -7.40% this quarter and then jump 27.30% in the quarter after that. In the rating firms’ projections, revenue will increase 9.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $96.69 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $109.55 million by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $83.64 million and $104.3 million respectively. In this case, analysts expect current quarter sales to grow by 15.60% and then jump by 5.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 32.00%. While earnings are projected to return 41.00% in 2021, the next five years will return 15.00% per annum.

AVID Dividends

Avid Technology Inc. is due to release its next quarterly earnings on November 09. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Avid Technology Inc. (NASDAQ:AVID)’s Major holders

Avid Technology Inc. insiders own 6.76% of total outstanding shares while institutional holders control 76.36%, with the float percentage being 81.90%. Impactive Capital, LP is the largest shareholder of the company, while 200 institutions own stock in it. As of Jun 29, 2021, the company held over 6.88 million shares (or 15.09% of all shares), a total value of $269.42 million in shares.

The next largest institutional holding, with 2.51 million shares, is of Blackrock Inc.’s that is approximately 5.51% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $98.32 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Avid Technology Inc. (AVID) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Jun 29, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 0.95 million shares. This amounts to just over 2.09 percent of the company’s overall shares, with a $37.38 million market value. The same data shows that the other fund manager holds slightly less at 0.81 million, or about 1.79% of the stock, which is worth about $23.57 million.

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