Avid Technology closed at $8.55 in the latest trading session, marking a +0.47% move from the prior day. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.16%.
Heading into today, shares of the audio and video technology company had gained 0.12% over the past month, lagging the Computer and Technology sector's gain of 3.11% and the S&P 500's gain of 2.07% 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 6, 2019. On that day, AVID is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 200%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $101.39 million, up 3.53% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.67 per share and revenue of $425.35 million, which would represent changes of +148.15% and +2.92%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AVID. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. AVID is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, AVID is holding a Forward P/E ratio of 12.7. For comparison, its industry has an average Forward P/E of 31.18, which means AVID is trading at a discount to the group.
It is also worth noting that AVID currently has a PEG ratio of 1.27. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.25 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 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AVID in the coming trading sessions, be sure to utilize Zacks.com.
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Avid Technology (AVID) Gains As Market Dips: What You Should Know
Avid Technology closed at $8.55 in the latest trading session, marking a +0.47% move from the prior day. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.16%.
Heading into today, shares of the audio and video technology company had gained 0.12% over the past month, lagging the Computer and Technology sector's gain of 3.11% and the S&P 500's gain of 2.07% 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 6, 2019. On that day, AVID is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 200%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $101.39 million, up 3.53% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.67 per share and revenue of $425.35 million, which would represent changes of +148.15% and +2.92%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AVID. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. AVID is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, AVID is holding a Forward P/E ratio of 12.7. For comparison, its industry has an average Forward P/E of 31.18, which means AVID is trading at a discount to the group.
It is also worth noting that AVID currently has a PEG ratio of 1.27. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.25 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 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AVID in the coming trading sessions, be sure to utilize Zacks.com.