Avid Technology closed at $6.86 in the latest trading session, marking a -0.58% move from the prior day. This move lagged the S&P 500's daily gain of 1.39%. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 1.65%.
Heading into today, shares of the audio and video technology company had lost 5.61% over the past month, lagging the Computer and Technology sector's gain of 21.08% and the S&P 500's gain of 25.31% in that time.
Wall Street will be looking for positivity from AVID as it approaches its next earnings report date. This is expected to be May 7, 2020. On that day, AVID is projected to report earnings of $0.11 per share, which would represent no growth from the year-ago period.
AVID's full-year Zacks Consensus Estimates are calling for earnings of $0.86 per share and revenue of $423.97 million. These results would represent year-over-year changes of +68.63% and +2.96%, respectively.
Any recent changes to analyst estimates for AVID should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AVID is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, AVID currently has a Forward P/E ratio of 8.07. This valuation marks a discount compared to its industry's average Forward P/E of 28.44.
Meanwhile, AVID's PEG ratio is currently 0.4. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.54 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Avid Technology (AVID) Stock Sinks As Market Gains: What You Should Know
Avid Technology closed at $6.86 in the latest trading session, marking a -0.58% move from the prior day. This move lagged the S&P 500's daily gain of 1.39%. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 1.65%.
Heading into today, shares of the audio and video technology company had lost 5.61% over the past month, lagging the Computer and Technology sector's gain of 21.08% and the S&P 500's gain of 25.31% in that time.
Wall Street will be looking for positivity from AVID as it approaches its next earnings report date. This is expected to be May 7, 2020. On that day, AVID is projected to report earnings of $0.11 per share, which would represent no growth from the year-ago period.
AVID's full-year Zacks Consensus Estimates are calling for earnings of $0.86 per share and revenue of $423.97 million. These results would represent year-over-year changes of +68.63% and +2.96%, respectively.
Any recent changes to analyst estimates for AVID should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AVID is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, AVID currently has a Forward P/E ratio of 8.07. This valuation marks a discount compared to its industry's average Forward P/E of 28.44.
Meanwhile, AVID's PEG ratio is currently 0.4. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.54 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.