Northland Securities Thinks Avid Technology’s Stock is Going to Recover

Avid Technology (AVIDResearch Report) received a Buy rating and a $14.00 price target from Northland Securities analyst Nehal Chokshi today. The company’s shares closed last Monday at $5.23, close to its 52-week low of $4.67.

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 4.6% and a 50.0% success rate. Chokshi covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Pure Storage.

Avid Technology has an analyst consensus of Strong Buy, with a price target consensus of $10.38, which is a 96.6% 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 $228.5M and has a P/E ratio of 169.30. The company has a Price to Book ratio of -1.14.

Based on the recent corporate insider activity of 80 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.