Avid Technology Inc. [AVID] is -16.98% lower this YTD. Is it still time to buy?

Avid Technology Inc. [NASDAQ: AVID] closed the trading session at $27.04 on 08/30/22. The day’s price range saw the stock hit a low of $26.49, while the highest price level was $27.35. The company report on August 29, 2022 that Avid Technology Set to Join S&P SmallCap 600.


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Avid Technology Inc. (NASD:AVID) will replace Plantronics Inc. (NYSE:POLY) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, September 1. S&P 500 constituent HP Inc. (NYSE:HPQ) acquired Plantronics in a deal that closed today.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:.

The stocks have a year to date performance of -16.98 percent and weekly performance of 5.67 percent. The stock has been moved at -6.76 percent over the last six months. The stock has performed -4.35 percent around the most recent 30 days and changed -7.68 percent over the most recent 3-months.

If compared to the average trading volume of 275.31K shares, AVID reached to a volume of 4573616 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $37.00 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 2.30. 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.

Rosenblatt have made an estimate for Avid Technology Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 12, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on July 06, 2022, representing the official price target for Avid Technology Inc. stock. Previously, the target price had yet another drop from $45 to $42, while Maxim Group kept a Buy rating on AVID stock. On January 08, 2021, analysts increased their price target for AVID shares from 14 to 23.

The Average True Range (ATR) for Avid Technology Inc. is set at 1.36, with the Price to Sales ratio for AVID stock in the period of the last 12 months amounting to 3.09. Price to Free Cash Flow for AVID in the course of the last twelve months was 27.63 with Quick ratio for the last quarter at 0.80.

AVID stock trade performance evaluation

Avid Technology Inc. [AVID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.67. With this latest performance, AVID shares dropped by -4.35% in over the last four-week period, additionally sinking by -6.76% over the last 6 months – not to mention a rise of 3.64% 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 52.62, with the RSI for the last a single of trading hit 56.01, and the three-weeks RSI is set at 50.98 for Avid Technology Inc. [AVID]. The present Moving Average for the last 50 days of trading for this stock 26.99, while it was recorded at 25.35 for the last single week of trading, and 29.89 for the last 200 days.

Avid Technology Inc. [AVID]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Avid Technology Inc. [AVID] shares currently have an operating margin of +11.87 and a Gross Margin at +62.83. Avid Technology Inc.’s Net Margin is presently recorded at +10.10.

Avid Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

Earnings per share (EPS) analysis for Avid Technology Inc. [AVID] stock

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 Ownership positions

There are presently around $978 million, or 81.40% of AVID stock, in the hands of institutional investors. The top three institutional holders of AVID stocks are: IMPACTIVE CAPITAL LP with ownership of 7,131,793, which is approximately 3.633% of the company’s market cap and around 7.90% of the total institutional ownership; FMR LLC, holding 4,910,542 shares of the stock with an approximate value of $132.78 million in AVID stocks shares; and ROYCE & ASSOCIATES LP, currently with $67.94 million in AVID stock with ownership of nearly 13.838% 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 81 institutional holders increased their position in Avid Technology Inc. [NASDAQ:AVID] by around 3,989,010 shares. Additionally, 69 investors decreased positions by around 2,565,649 shares, while 24 investors held positions by with 29,618,833 shares. The mentioned changes placed institutional holdings at 36,173,492 shares, according to the latest SEC report filing. AVID stock had 30 new institutional investments in for a total of 562,159 shares, while 18 institutional investors sold positions of 681,727 shares during the same period.

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