Market cap of Avid Technology Inc. [AVID] reaches 391.20M – now what?

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Avid Technology Inc. [NASDAQ: AVID] gained 5.06% or 0.45 points to close at $9.35 with a heavy trading volume of 1355458 shares. The company report on October 14, 2020 that Avid Technology Announces Conference Call to Discuss Third Quarter 2020 Financial Results.

Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced that Jeff Rosica, Chief Executive Officer and President, and Ken Gayron, Executive Vice President and Chief Financial Officer, will host a conference call on Wednesday, October 28, 2020, at 5:30 p.m. ET to discuss the company’s earnings for the third quarter of 2020, which will be published after the market close that day.

Conference call information:.

It opened the trading session at $8.92, the shares rose to $9.43 and dropped to $8.90, the range by which the price of stock traded the whole day. The daily chart for AVID points out that the company has recorded 33.95% gains over the past six months. However, it is still -100.21% lower than its most recent low trading price.

If we look at the average trading volume of 408.12K shares, AVID reached to a volume of 1355458 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Avid Technology Inc. [AVID]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVID shares is $12.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVID stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Maxim Group have made an estimate for Avid Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 04, 2020. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on May 19, 2020, representing the official price target for Avid Technology Inc. stock. Previously, the target price had yet another raise to $10, while B. Riley FBR analysts kept a Buy rating on AVID stock.

The Average True Range (ATR) for Avid Technology Inc. is set at 0.34, with the Price to Sales ratio for AVID stock in the period of the last 12 months amounting to 1.04. Price to Free Cash Flow for AVID in the course of the last twelve months was 3912.04 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for AVID stock

Avid Technology Inc. [AVID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.01. With this latest performance, AVID shares gained by 20.65% in over the last four-week period, additionally plugging by 33.95% over the last 6 months – not to mention a rise of 44.29% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVID stock in for the last two-week period is set at 67.56, with the RSI for the last a single of trading hit 72.49, and the three-weeks RSI is set at 63.70 for Avid Technology Inc. [AVID]. The present Moving Average for the last 50 days of trading for this stock 8.27, while it was recorded at 8.86 for the last single week of trading, and 7.59 for the last 200 days.

Avid Technology Inc. [AVID]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Avid Technology Inc. [AVID] shares currently have an operating margin of +8.09 and a Gross Margin at +58.08. Avid Technology Inc.’s Net Margin is presently recorded at +1.85.

Return on Total Capital for AVID is now 40.50, given the latest momentum, and Return on Invested Capital for the company is 12.06. Additionally, AVID Total Debt to Total Capital is recorded at 241.92, with Total Debt to Total Assets ending up at 86.88.

Reflecting on the efficiency of the workforce at the company, Avid Technology Inc. [AVID] managed to generate an average of $5,319 per employee. Receivables Turnover for the company is 4.64 with a Total Asset Turnover recorded at a value of 1.44.Avid Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.

Avid Technology Inc. [AVID]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Avid Technology Inc. posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVID. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Avid Technology Inc. go to 15.00%.

An analysis of insider ownership at Avid Technology Inc. [AVID]

There are presently around $290 million, or 85.50% of AVID stock, in the hands of institutional investors. The top three institutional holders of AVID stocks are: IMPACTIVE CAPITAL LP with ownership of 6,773,691, which is approximately 69.303% of the company’s market cap and around 8.10% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 2,936,441 shares of the stock with an approximate value of $27.46 million in AVID stocks shares; and VANGUARD GROUP INC, currently with $21.5 million in AVID stock with ownership of nearly -19.857% of the company’s market capitalization.

Positions in Avid Technology Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 61 institutional holders increased their position in Avid Technology Inc. [NASDAQ:AVID] by around 8,941,100 shares. Additionally, 41 investors decreased positions by around 3,815,754 shares, while 13 investors held positions by with 18,250,373 shares. The mentioned changes placed institutional holdings at 31,007,227 shares, according to the latest SEC report filing. AVID stock had 21 new institutional investments in for a total of 1,945,550 shares, while 19 institutional investors sold positions of 1,034,155 shares during the same period.

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