Avid Technology, Inc. develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer, a cloud-enabled solution used to edit video content; Avid NEXIS shared storage systems; Maestro solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows; AirSpeed 5000 and AirSpeed 5500 on-air server solutions; and MediaCentral, a media production suite. Its audio products and solutions comprise Pro Tools digital audio software solutions to facilitate the audio production process; Sibelius solution to create, edit, and publish musical scores; S6 line of complementary control surfaces and consoles; S1 and S4 audio control surfaces; and VENUE | S6L live sound system for mixing audio for live sound reinforcement. The company also provides Avid Link, a mobile application to connect with other artists, producers, mixers, composers, editors, videographers, movie makers, and graphic designers; FastServe video server that assists broadcasters in making the move to UHD and IP based workflows with a new and modular architecture; and hardware products, such as I/O devices, interfaces, and audio and video processing equipment. In addition, it offers various service contracts and support plans; professional services, such as workflow design and consulting, program and project management, system installation and commissioning, and custom development and role-based product level training; and public and private training to customers and alliance partners, as well as develops and licenses curriculum content for use by third party Avid Learning partners to deliver training to customers, users, and alliance partners. The company was incorporated in 1987 and is headquartered in Burlington, Massachusetts.
IPO Year: 1993
Exchange: NASDAQ
Website: avid.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/6/2023 | $45.00 | Buy | Truist |
| 7/12/2022 | $30.00 | Neutral | Rosenblatt |
| 7/6/2022 | $33.00 | Overweight | JP Morgan |
| 3/2/2022 | $45.00 → $42.00 | Buy | Maxim Group |
Truist initiated coverage of Avid Tech with a rating of Buy and set a new price target of $45.00
Rosenblatt initiated coverage of Avid Tech with a rating of Neutral and set a new price target of $30.00
JP Morgan initiated coverage of Avid Tech with a rating of Overweight and set a new price target of $33.00
Maxim Group reiterated coverage of Avid Tech with a rating of Buy and set a new price target of $42.00 from $45.00 previously
B. Riley resumed coverage of Avid Technology with a rating of Buy and set a new price target of $25.00 from $24.00 previously
B. Riley resumed coverage of Avid Technology with a rating of Buy and set a new price target of $24.00 from $18.00 previously
Northland Securities reiterated coverage of Avid Technology with a rating of and set a new price target of $22.00 from $32.00 previously
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Marriott Vacations Worldwide Corporation (NYSE:VAC) ("MVW" or the "Company") announced the appointment of Christian Alejandro Asmar to its Board of Directors effective today. Mr. Asmar is the co-founder and Managing Partner of Impactive Capital, which owns approximately 9.5% of the outstanding shares of MVW. Following Mr. Asmar's appointment, MVW's board will consist of 12 directors, 11 of whom are independent. Also, the Company plans to establish two new ad hoc board committees. One of these committees is expected to focus on advising the Board on the Company's modernization efforts aimed at revenue growth and cost efficiencies, of which Mr. Asmar will be a member, and a second committee
BURLINGTON, Mass., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID) today announced the appointment of music and media technology executive David Toomey to Senior Vice President & General Manager of Audio & Music Solutions. David was selected for his exceptional track record and reputation of successful operations leadership of subscription businesses, digital commerce platforms and digital go-to-market strategies, making major contributions to leading music recording labels, technology providers and their renowned clients during the last 20 years of disruption and transformation across the media & entertainment and music industries. David Toomey joins Avid following six years with
BURLINGTON, Mass., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Media technology provider Avid Technology, Inc. (NASDAQ: AVID) today announced the appointment of Adistec® Corp. as sole master distributor of all Avid® audio and video products to Avid’s reseller network throughout 17 Latin American countries. Establishing Adistec as a strategic partner, Avid will leverage Adistec’s localized expertise to accelerate its logistics, finance and other processes in the region to keep pace with demand for content creation and management tools and solutions in television, film, music, and education markets. Headquartered in Miami, Adistec is a value-added distributor of datacenter, networking and security te
BURLINGTON, Mass., Dec. 08, 2020 (GLOBE NEWSWIRE) -- The Avid Customer Association (ACA) in partnership with Avid (NASDAQ: AVID) today announced the expansion of its executive board of directors with the appointment of four highly accomplished film and television creators including picture editor Shannon Baker Davis, supervising sound/Dia/ADR editor Bobbi Banks, editor and colorist Monica Daniel, and sound editor, mixer and composer Eric Johnson. The executive board oversees the ACA community which today fosters connections and collaboration among more than 30,000 members working in all aspects of media and entertainment to shape the future of media technology. “Right now, the ACA board i
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Marriott Vacations Worldwide Corporation (NYSE:VAC) ("MVW" or the "Company") announced the appointment of Christian Alejandro Asmar to its Board of Directors effective today. Mr. Asmar is the co-founder and Managing Partner of Impactive Capital, which owns approximately 9.5% of the outstanding shares of MVW. Following Mr. Asmar's appointment, MVW's board will consist of 12 directors, 11 of whom are independent. Also, the Company plans to establish two new ad hoc board committees. One of these committees is expected to focus on advising the Board on the Company's modernization efforts aimed at revenue growth and cost efficiencies, of which Mr. Asmar will be a member, and a second committee
Intends to File Preliminary Proxy Statement and Provides Overview of the Case for Shareholder-Driven Change at Lyft Following Years of Value Destruction Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately one percent of the outstanding common shares of Lyft, Inc. (NASDAQ:LYFT) ("Lyft" or the "Company"), today announced that it is filing a preliminary proxy statement in connection with its nomination of two highly qualified and independent candidates – Alan L. Bazaar and Daniel B. Silvers – for election to the Company's Board of Directors (the "Board") at the 2025 Annual Meeting of Shareholders (the "Annual Meeting"). Arnaud Ajdler, Founder and Port
Believes it is Critical to Add Directors with an Investor Mindset, and Capital Allocation and Financial Markets Experience Underscores Engine's Repeated Attempts to Avoid an Election Contest, Including by its Willingness to Settle for Reduced Board Representation Engine Capital, L.P. (together with its affiliates, "Engine"), a significant shareholder of MRC Global Inc. (NYSE:MRC) ("MRC" or the "Company") and the owner of nearly 4.3% of the Company's outstanding common stock, today announced it has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with its nomination of two highly qualified candidates for election to the Company's Board of
BURLINGTON, Mass., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Leading media and entertainment technology provider Avid® has signed a multi-year subscription agreement with Icelandic state broadcaster RÚV to upgrade its server platform to Avid | Stream IO™, Avid's new ingest and playout solution. Avid | Stream IO will provide RÚV with a software-based solution for production ingest and playout of news, sports, live entertainment and other TV content. Iceland's national public-service broadcaster, RÚV, broadcasts linear and non-linear TV and radio across the country. RÚV Chief Technology Officer Bragi Reynisson explains, "Upgrading to Avid | Stream IO was a simple decision for us. We needed to
BURLINGTON, Mass., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Avid Technology, Inc. (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced the completion of its acquisition by an affiliate of STG in an all-cash transaction valued at approximately $1.4 billion. The acquisition was previously announced on August 9, 2023, and approved by Avid stockholders on November 2, 2023. Under the terms of the merger agreement, Avid stockholders will receive $27.05 per share. As a result of the completion of this transaction, Avid common stock will cease trading prior to the opening of trading on November 7, 2023, and will no longer be listed on the Nasda
BURLINGTON, Mass., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID) today announced that Record TV, one of Brazil's leading TV broadcasters, has refitted its audio post-production studios with the Pro Tools | HDX™ and MTRX Studio™ interfaces to edit and mix its most demanding productions. Headquartered in Sao Paulo, Record TV also upgraded eight production studios with Pro Tools | Carbon® to ensure they capture performances with the highest sound quality. "Avid's innovation and support gives Record TV's post-production teams outstanding assurance of performance across our many different studios and top audio quality for our programming, no matter how challenging the project may
BURLINGTON, Mass., Sept. 22, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID) today announced Pro Tools Sketch™, a new non-linear, clip-based creation tool in Pro Tools software that is also available as a free iPad app. Pro Tools Sketch enables musicians to quickly capture new ideas and freely experiment with concepts and songs, and find inspiration with a massive library of free loops, virtual instruments and effects. Years in the making, this new addition to the Pro Tools workflow adds a must-have creation process directly alongside the Edit and Mix windows that established modern linear audio recording. With Pro Tools Sketch, Avid addresses the growing needs of modern creators, no matte
BURLINGTON, Mass., Sept. 18, 2023 (GLOBE NEWSWIRE) -- ITV Studios, the production and distribution arm of ITV PLC, which includes the UK's biggest commercial broadcaster, has signed a new subscription deal with Avid® (NASDAQ:AVID) to standardize its media storage and ways of working across its international studios in Europe and Australia. The new agreement will provide ITV Studios' international labels with subscriptions to the latest Avid NEXIS® F-Series storage engines, and Media Composer® video editing with Avid NEXIS | EDGE™, allowing editors and production teams to work and collaborate from anywhere, and streamline workflows throughout their post-production facilities. Rob O'Brien,
BURLINGTON, Mass., Sept. 13, 2023 (GLOBE NEWSWIRE) -- ITV has partnered with Avid® (NASDAQ:AVID) to deliver leading edge functionality in its news editing, storage and publishing systems for both ITV Regional News and ITV National News, through a new subscription deal. ITV News is the largest commercial news broadcaster in the UK, producing national and regional news bulletins on terrestrial TV and online through ITVX, for both live streaming and catch-up. ITV News is the brand name used by ITV for its daily news programmes. ITV produces its content for Nations and Regions, with ITN (part-owned by ITV) producing its National Network service. ITN also produces news programming
BURLINGTON, Mass., Sept. 12, 2023 (GLOBE NEWSWIRE) -- This week at the IBC2023 show, audio production professionals working in network television, streaming media and film will be first to see Avid® (NASDAQ:AVID) previews of breakthrough technologies coming soon to Pro Tools® workflows. Developed for the world's most demanding productions, these demonstrations will show how projects can be delivered faster with more thrilling sonic experiences for all audiences. Stay in Pro Tools when mixing Dolby Atmos contentDuring IBC2023, Avid will further showcase its ongoing partnership with Dolby to support development that keeps pace with the demand for immersive sound experiences. A preview dem
Total revenue of $108.5 million, an increase of 11.1% year-over-year or 13.0% at constant currency Subscription Annual Recurring Revenue (ARR) of $154 million at quarter end, an increase of 27.0% year-over-year, and total ARR of $248 million, an increase of 7.1% year-over-year Subscription revenue of $44.4M, an increase of 30.2% year-over-year, driven by a net increase of 17,700 Active Paid Software Subscriptions in the quarter, including continued growth in enterprise subscriptions BURLINGTON, Mass., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced its financial results for the second
Stockholders to Receive $27.05 Per Share in Cash Transaction Represents 32.1% Premium to Avid's Unaffected Share Price on May 23, 2023 Avid to Become a Privately Held Company Upon Completion of the Transaction BURLINGTON, Mass., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced that it has entered into a definitive agreement to be acquired by an affiliate of STG in an all-cash transaction valuing Avid at approximately $1.4 billion, inclusive of Avid's net debt. Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid common stock. T
BURLINGTON, Mass., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, announced today that Jeff Rosica, Chief Executive Officer and President, and Ken Gayron, Chief Financial Officer and Executive Vice President, will host a conference call on Wednesday, August 9, 2023, at 5:30 p.m. ET to discuss the company's earnings for the second quarter of 2023, ended June 30, 2023, which will be published after the market closes that day. Investors are invited to register for the Zoom video webinar by visiting https://ir.avid.com/events-and-presentations. A replay will be available for a limited time by visiting the E
Subscription ARR of $150 million, an increase of 30.1% year-over-year, and total Annual Recurring Revenue (ARR) of $247 million, an increase of 8.1% year-over-year Subscription revenue of $39.4M, an increase of 19.5% year-over-year, driven by a net increase of 20,700 Active Paid Software Subscriptions in the quarter Reaffirming 2023 annual guidance BURLINGTON, Mass., May 04, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced its financial results for the first quarter of 2023, which ended on March 31, 2023. Total revenue decreased (2.8%) year-over-year in the first quarter, or (0.1%) at constant
BURLINGTON, Mass., April 27, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, announced today that Jeff Rosica, Chief Executive Officer and President, and Ken Gayron, Chief Financial Officer and Executive Vice President, will host a conference call on Thursday, May 4, 2023, at 5:30 p.m. ET to discuss the company's earnings for the first quarter of 2023, ended March 31, 2023, which will be published after the market closes that day. Investors are invited to register for the Zoom video webinar by visiting https://ir.avid.com/events-and-presentations. A replay will be available for a limited time by visiting the Even
Q4 revenue of $116.1M, which includes a ($3.3M) one-time non-cash adjustment, was in the middle of the implied Q4 guidance range; excluding the adjustment, Q4 revenue of $119.4M would have been at the high end of the implied Q4 guidance range Subscription ARR of $141.3M, an increase of 37.1% year-over-year and 38.8% at constant currency, and total ARR of $244.9M, an increase of 10.2% year-over-year and 13.4% at constant currency Exceeded 500,000 paid Cloud-Enabled Software Subscriptions as of December 31, 2022 Introduction of Annual Recurring Revenue (ARR) guidance for Q1 and FY 2023 BURLINGTON, Mass., March 01, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provide
Subscription Revenue of $41.8M, an Increase of 49.2% Year-Over-Year, Driven by All-Time Record 32,600 Net Increase in Paid Subscriptions in the Quarter Net Income of $12.0M, Adjusted EBITDA of $21.0M, and Adjusted EBITDA Margin of 20.4% Net Income per Common Share of $0.27; Non-GAAP Net Income per Common Share of $0.38 which Represents an Increase of 40.7% Year-Over-Year BURLINGTON, Mass., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced its financial results for the third quarter of 2022, which ended on September 30, 2022. The recurring components of the Company's revenue remained str
BURLINGTON, Mass., Oct. 25, 2022 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, announced today that Jeff Rosica, Chief Executive Officer and President, and Ken Gayron, Chief Financial Officer and Executive Vice President, will host a conference call on Tuesday, Nov. 8, 2022, at 5:30 p.m. ET to discuss the company's earnings for the third quarter of 2022, ended Sept. 30, 2022, which will be published after the market closes that day. Investors are invited to register for the Zoom video webinar by visiting https://ir.avid.com/events-and-presentations. A replay will be available for a limited time by visiting the Even
Subscription Revenue of $34.1M, an Increase of 58.7% Year-Over-Year, Driven by Increase of Cloud-Enabled Software Subscriptions to Over 450,300 Annual Recurring Revenue of $231.0M, an Increase of 14.1% Year-Over-Year Net Income per Common Share of $0.16 and Non-GAAP Earnings per Share of $0.26, an Increase of 4.0% Year-Over-Year BURLINGTON, Mass., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced its financial results for the second quarter of 2022, which ended on June 30, 2022. Total revenue increased 3.0% year-over-year in the second quarter, led by strong subscription growth, offset
BURLINGTON, Mass., July 20, 2022 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, announced today that Jeff Rosica, Chief Executive Officer and President, and Ken Gayron, Chief Financial Officer and Executive Vice President, will host a conference call on Tuesday, August 2, 2022, at 5:30 p.m. ET to discuss the company's earnings for the second quarter of 2022, ended June 30, 2022, which will be published after the market closes that day. Investors are invited to register for the Zoom video webinar by visiting https://ir.avid.com/events-and-presentations. A replay will be available for a limited time by visiting the Ev