Maxim Group analyst Jack Vander Aarde reiterated a Buy rating on Avid Technology (AVID) yesterday and set a price target of $14.00. The company’s shares closed last Tuesday at $9.25, close to its 52-week high of $9.60.
According to TipRanks.com, Aarde is a 5-star analyst with an average return of 57.4% and a 74.4% success rate. Aarde covers the Technology sector, focusing on stocks such as BIO-key International, WiMi Hologram Cloud, and Vuzix.
Avid Technology has an analyst consensus of Strong Buy, with a price target consensus of $12.25, which is a 38.3% upside from current levels. In a report issued on July 22, Northland Securities also reiterated a Buy rating on the stock with a $14.00 price target.
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Based on Avid Technology’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $86.45 million and GAAP net loss of $5.86 million. In comparison, last year the company earned revenue of $103 million and had a GAAP net loss of $213K.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AVID in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Avid Technology, Inc. engages in the provision of technology services for 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.
