Avid Technology Inc. [NASDAQ: AVID] price surged by 27.08 percent to reach at $5.88. The company report on May 6, 2021 that Avid Technology Announces First Quarter 2021 Results.
78.2% Year-Over-Year Subscription Revenue Growth and Net Increase of Approximately 28,000 Paid Subscriptions During the Quarter.
9.2% Year-Over-Year Revenue Growth as the Company Returned to Year-over-Year Growth.
A sum of 2727877 shares traded at recent session while its average daily volume was at 458.94K shares. Avid Technology Inc. shares reached a high of $27.66 and dropped to a low of $23.72 until finishing in the latest session at $27.59.
The one-year AVID stock forecast points to a potential upside of 2.34. The average equity rating for AVID stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $28.25 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 January 08, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price from $13.50 to $18. The new note on the price target was released on December 31, 2020, representing the official price target for Avid Technology Inc. stock. Previously, the target price had yet another raise from $12 to $14, while Maxim Group kept a Buy rating on AVID stock.
The Average True Range (ATR) for Avid Technology Inc. is set at 1.38, with the Price to Sales ratio for AVID stock in the period of the last 12 months amounting to 3.39. Price to Free Cash Flow for AVID in the course of the last twelve months was 36.00 with Quick ratio for the last quarter at 1.00.
AVID Stock Performance Analysis:
Avid Technology Inc. [AVID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.45. With this latest performance, AVID shares gained by 27.85% in over the last four-week period, additionally plugging by 191.34% over the last 6 months – not to mention a rise of 357.55% 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 73.89, with the RSI for the last a single of trading hit 79.54, and the three-weeks RSI is set at 69.60 for Avid Technology Inc. [AVID]. The present Moving Average for the last 50 days of trading for this stock 21.07, while it was recorded at 23.50 for the last single week of trading, and 14.35 for the last 200 days.
Insight into Avid Technology Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Avid Technology Inc. [AVID] shares currently have an operating margin of +10.27 and a Gross Margin at +60.98. Avid Technology Inc.’s Net Margin is presently recorded at +3.07.
Return on Total Capital for AVID is now 33.82, given the latest momentum, and Return on Invested Capital for the company is 12.95. Additionally, AVID Total Debt to Total Capital is recorded at 221.30, with Total Debt to Total Assets ending up at 79.47.
Reflecting on the efficiency of the workforce at the company, Avid Technology Inc. [AVID] managed to generate an average of $8,122 per employee. Receivables Turnover for the company is 3.79 with a Total Asset Turnover recorded at a value of 1.18.Avid Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.
AVID Stock EPS
With the latest financial reports released by the company, Avid Technology Inc. posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 700.00%. 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%.
Avid Technology Inc. [AVID] Insider Position Details
There are presently around $721 million, or 88.10% of AVID stock, in the hands of institutional investors. The top three institutional holders of AVID stocks are: IMPACTIVE CAPITAL LP with ownership of 6,881,793, which is approximately 0% of the company’s market cap and around 5.20% of the total institutional ownership; VANGUARD GROUP INC, holding 2,458,460 shares of the stock with an approximate value of $53.37 million in AVID stocks shares; and BLACKROCK INC., currently with $51.35 million in AVID stock with ownership of nearly 13.248% of the company’s market capitalization.
Positions in Avid Technology Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 70 institutional holders increased their position in Avid Technology Inc. [NASDAQ:AVID] by around 7,451,244 shares. Additionally, 58 investors decreased positions by around 5,423,010 shares, while 13 investors held positions by with 20,353,213 shares. The mentioned changes placed institutional holdings at 33,227,467 shares, according to the latest SEC report filing. AVID stock had 36 new institutional investments in for a total of 4,678,597 shares, while 14 institutional investors sold positions of 1,712,277 shares during the same period.