Avid Technology (NASDAQ:AVID) Now Covered by StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Avid Technology (NASDAQ:AVID – Get Rating) in a research report issued on Thursday. The brokerage set a “buy” rating on the technology company’s stock.

Several other research analysts also recently commented on the company. Truist Financial initiated coverage on Avid Technology in a report on Monday, March 6th. They issued a “buy” rating and a $45.00 price objective on the stock. Maxim Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Avid Technology in a report on Friday, March 3rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $28.00 price objective on shares of Avid Technology in a report on Friday, March 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.83.

Avid Technology Stock Down 2.0 %

NASDAQ AVID opened at $28.69 on Thursday. The stock’s 50-day simple moving average is $29.71 and its two-hundred day simple moving average is $27.17. Avid Technology has a twelve month low of $20.83 and a twelve month high of $37.31. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 23.33 and a beta of 1.23.

Institutional Trading of Avid Technology

Large investors have recently modified their holdings of the business. Fox Run Management L.L.C. bought a new stake in shares of Avid Technology in the second quarter worth about $212,000. Yousif Capital Management LLC bought a new stake in shares of Avid Technology in the third quarter worth about $642,000. Dimensional Fund Advisors LP grew its stake in shares of Avid Technology by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,269,855 shares of the technology company’s stock worth $29,535,000 after purchasing an additional 15,119 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Avid Technology by 517.0% in the third quarter. Lazard Asset Management LLC now owns 126,654 shares of the technology company’s stock worth $2,945,000 after purchasing an additional 106,126 shares during the last quarter. Finally, Oberweis Asset Management Inc. grew its stake in shares of Avid Technology by 20.1% in the third quarter. Oberweis Asset Management Inc. now owns 37,700 shares of the technology company’s stock worth $877,000 after purchasing an additional 6,300 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

About Avid Technology

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Avid Technology, Inc engages in the provision of technology services for the media and entertainment industry. It develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management, and distribution. The company was founded by William J. Warner in September 1987 and is headquartered in Burlington, MA.