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AVID TECHNOLOGY, INC.

(AVID)
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Avid: Q3 Earnings Snapshot

11/09/2021 | 06:15pm EST

BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Tuesday reported third-quarter earnings of $14.8 million.

On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 32 cents. Earnings, adjusted for one-time gains and costs, were 27 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The audio and video technology company posted revenue of $101.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $97 million.

Avid expects full-year earnings in the range of $1.18 to $1.26 per share, with revenue in the range of $398 million to $404 million.

Avid shares have increased 72% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.25, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVID at https://www.zacks.com/ap/AVID

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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Analyst Recommendations on AVID TECHNOLOGY, INC.
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Financials (USD)
Sales 2021 402 M - -
Net income 2021 39,3 M - -
Net Debt 2021 97,3 M - -
P/E ratio 2021 35,0x
Yield 2021 -
Capitalization 1 371 M 1 371 M -
EV / Sales 2021 3,65x
EV / Sales 2022 3,23x
Nbr of Employees 1 362
Free-Float -
Chart AVID TECHNOLOGY, INC.
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Avid Technology, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AVID TECHNOLOGY, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 30,46 $
Average target price 42,50 $
Spread / Average Target 39,5%
EPS Revisions
Managers and Directors
Jeff Rosica Senior Vice President-Worldwide Field Operation
Kenneth Gayron Chief Financial Officer & Executive Vice President
Peter Miles Westley Chairman
Kevin W. Riley Chief Technology Officer & SVP-Technology
Dave Perillo Senior VP-Operations & Supply Chain
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