Avid Technology (NASDAQ: AVID) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, StockRatingsNetwork.com reports. They currently have a $5.50 price objective on the stock. Zacks‘ target price would suggest a potential downside of 5.34% from the company’s current price.
A number of other analysts have also recently weighed in on AVID. Analysts at JP Morgan Cazenove cut their price target on shares of Avid Technology from $8.50 to $6.50 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of Avid Technology from an “overweight” rating to a “neutral” rating in a research note to investors on Monday. They now have a $6.50 price target on the stock, down previously from $8.50.
Shares of Avid Technology (NASDAQ: AVID) traded up 0.69% during mid-day trading on Thursday, hitting $5.81. Avid Technology has a 52 week low of $5.68 and a 52 week high of $10.04. The stock’s 50-day moving average is currently $6.42. The company’s market cap is $226.2 million.
Avid Technology, Inc is a provider of digital media content-creation solutions for film, video, audio and broadcast professionals, as well as artists and home enthusiasts.
To view Zacks’ full report, visit www.zacks.com