In a report released yesterday, Jack Vander Aarde from Maxim Group reiterated a Buy rating on Avid Technology (AVID), with a price target of $12.00. The company’s shares closed last Tuesday at $5.83, close to its 52-week low of $5.36.
According to TipRanks.com, Aarde is a 4-star analyst with an average return of 8.3% and a 44.4% success rate. Aarde covers the Technology sector, focusing on stocks such as BIO-key International, Vuzix, and Alarm.
Currently, the analyst consensus on Avid Technology is a Strong Buy with an average price target of $10.38, implying a 75.9% upside from current levels. In a report issued on May 8, B.Riley FBR also reiterated a Buy rating on the stock with a $9.00 price target.
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Avid Technology’s market cap is currently $250.6M and has a P/E ratio of 37.70. The company has a Price to Book ratio of -1.39.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is neutral on the stock.
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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.