Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices. This segments unified communications and collaboration solutions enable organizations to provide their workers with a single application, or app, for all-channel calling, messaging, meetings, and team collaboration with the same ease of use as existing consumer apps; and contact center solutions enable customers to build a customized portfolio of applications driving customer engagement and customer value. Its communications solutions include voice, email, chat, social media, video, performance management, and third-party integration. The Services segment provides global support services, enterprise cloud and managed services, and professional services. The company also provides business devices, such as IP-enabled handsets, multimedia devices, and video conferencing systems. Avaya Holdings Corp. sells directly through its sales force, as well as indirectly through its network of channel partners, including distributors, service providers, dealers, value-added resellers, system integrators, and business partners. The company has a strategic collaboration with RingCentral, Inc. to accelerate the company's transition to the cloud. The company is headquartered in Durham, North Carolina.
IPO Year:
Exchange: NYSE
Website: avaya.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/29/2022 | Buy → Hold | Craig Hallum | |
| 5/17/2022 | $8.00 → $5.00 | Equal Weight → Underweight | Barclays |
| 5/13/2022 | $26.00 → $6.00 | Outperform → Market Perform | Cowen |
| 5/12/2022 | $1.00 | Buy → Sell | BWS Financial |
| 5/11/2022 | $16.00 → $7.00 | Neutral → Underweight | JP Morgan |
| 2/10/2022 | $40.00 → $22.00 | Buy | BWS Financial |
| 2/10/2022 | $20.00 → $16.00 | Equal-Weight | Barclays |
| 12/15/2021 | $26.00 → $24.00 | Equal-Weight | Morgan Stanley |
| 11/23/2021 | $24.00 → $25.00 | Neutral | Citigroup |
| 10/21/2021 | $20.00 | Overweight → Equal-Weight | Barclays |
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Craig Hallum downgraded Avaya Holdings from Buy to Hold
Barclays downgraded Avaya Holdings from Equal Weight to Underweight and set a new price target of $5.00 from $8.00 previously
Cowen downgraded Avaya Holdings from Outperform to Market Perform and set a new price target of $6.00 from $26.00 previously
BWS Financial downgraded Avaya Holdings from Buy to Sell and set a new price target of $1.00
JP Morgan downgraded Avaya Holdings from Neutral to Underweight and set a new price target of $7.00 from $16.00 previously
BWS Financial reiterated coverage of Avaya Hldgs with a rating of Buy and set a new price target of $22.00 from $40.00 previously
Barclays reiterated coverage of Avaya Hldgs with a rating of Equal-Weight and set a new price target of $16.00 from $20.00 previously
Morgan Stanley reiterated coverage of Avaya Hldgs with a rating of Equal-Weight and set a new price target of $24.00 from $26.00 previously
Citigroup reiterated coverage of Avaya Hldgs with a rating of Neutral and set a new price target of $25.00 from $24.00 previously
Barclays downgraded Avaya Hldgs from Overweight to Equal-Weight and set a new price target of $20.00
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Secures Approximately $780 Million in Committed Financing; New Capital Will Accelerate Investment in Avaya's Leading Cloud Communications Portfolio Enters Agreement to Eliminate More Than 75% of Debt and Substantially Increase Cash and Liquidity Initiates Expedited, Prepackaged Financial Restructuring via Chapter 11 with Overwhelming Support of Financial Stakeholders Expects to Complete Process in 60 to 90 Days; Paying Vendors and Suppliers in Full and Paying Employees as Usual Extends and Expands Strategic Partnership with RingCentral to Build on Success of Avaya Cloud Office® by RingCentral Avaya Holdings Corp. (NYSE:AVYA) ("Avaya" or the "Company"), a global leader in solutions to e
Avaya (NYSE:AVYA), a global leader in solutions to enhance and simplify communications and collaboration, today announced it has been named as a Leader in the inaugural report: The Aragon Research Globe™ for Conversational AI in the Intelligent Contact Center (ICC) 2023 by Aragon Research, Inc. According to the report1, authored by Craig Kennedy, Sr. Director of Research at Aragon Research, the Avaya solution offers a "fully integrated technology stack including Unified Communication (UC), Contact Center (CC), and Workstream Collaboration (WSC), all extensible through Avaya Communications APIs and application library." The report also indicates Avaya's conversational AI solution is designe
Avaya Holdings Corp. (NYSE:AVYA) ("Avaya" or "the Company"), a global leader in solutions to enhance and simplify communications and collaboration, today announced that on December 29, 2022, it received notice from the New York Stock Exchange ("NYSE") indicating that the Company is no longer in compliance with the NYSE's continued listing standards because the average closing price of the Company's common stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company's common stock from the NYSE. The Company intends to notify the NYSE of its intent to cure the stock price deficiency and return to compliance with the
Avaya Holdings Corp. (NYSE:AVYA) ("Avaya" or "the Company") today publicly disclosed certain business information that it confidentially shared with certain of its financial stakeholders. This information was shared in connection with ongoing constructive discussions Avaya is having with its financial stakeholders regarding a comprehensive resolution to strengthen the Company's balance sheet and position the business for long-term success. Alan Masarek, Avaya's Chief Executive Officer, said, "We are pleased to remain engaged in constructive discussions with all of our financial stakeholders to enhance our capital structure, increase liquidity and accelerate our investment in innovative pro
Fourth Consecutive Year Avaya is Named to the Aragon Research Globe™ for Intelligent Contact Centers (ICC) Report Avaya (NYSE:AVYA), a global leader in solutions to enhance and simplify communications and collaboration, today announced it has been named for the fourth consecutive year as a Leader in The Aragon Research Globe™ for Intelligent Contact Centers (ICC) 2022, for the Avaya Experience Platform™. According to the report1, authored by Aragon Research CEO and Lead Analyst Jim Lundy, the AI-powered, multi-cloud Avaya Experience Platform offers a full UCC platform that "enables organizations to create and deliver in-the-moment experiences" and "has one of the largest contact center in
Kieran McGrath to Retire; Becky Roof Appointed Interim Chief Financial Officer Avaya Holdings Corp. (NYSE:AVYA) ("Avaya" or "the Company") today announced certain changes to its executive team as the Company continues executing on its transformation to subscription and cloud-delivered services. Kieran McGrath will retire as Executive Vice President and Chief Financial Officer. Becky Roof, Managing Director at global consulting firm AlixPartners, LLP, has been appointed as interim Chief Financial Officer. These changes are effective November 9, 2022, and Mr. McGrath has agreed to continue with Avaya in an advisory capacity until December 1, 2022 to ensure a smooth transition. Additionally,
Avaya Sets a High Bar for Integrated UC&C Capabilities That Deliver the Experiences Customers and Employees Demand Avaya (NYSE:AVYA), a global leader in solutions to enhance and simplify communications and collaboration, today announced it has been identified as a Leader in The Aragon Research Globe™ for Unified Communications and Collaboration UC&C, 2022. The evaluation was based on completeness of strategy and performance. Avaya's all-in-one solution for seamless communications and integration with other business apps enables businesses to take customer and employee experiences to a new level. The report1, authored by Aragon Research lead analyst Jim Lundy, clearly lays out the reasons
Startek® (NYSE:SRT), a global customer experience (CX) solutions provider, today announced that it has been recognized with the Best Customer Experience award in the Managed Digital Transformation Providers Category at the Future Enterprise Awards 2022 held in Dubai, United Arab Emirates. "Through our solutions, we bring together data, people and technology to create world-class experiences. This recognition is a testament to our ability to deliver effective outsourced CX programs that meet the unique needs of our clients and their customers in a digital-first world," said Abhinandan Jain, Chief Digital Officer, Startek. "It is an honor to be recognized at the Tahawultech.com Future Enterp
Avaya Driving Innovation in Traditional Video Meetings with True Workstream Collaboration, Enabling Teams to Achieve Seamless Coordination and Productivity Avaya (NYSE:AVYA), a global leader in solutions to enhance and simplify communications and collaboration, today announced it has been identified as a Leader in The Aragon Research Globe™ for Intelligent Video Conferencing, 2022. Avaya continues to provide customers with digital workplace solutions built on the understanding that work is not just what is done within a meeting, but also the before and after. Video conferencing is now a de facto standard for the way to conduct meetings in a hybrid workplace. The next evolution is for vide
Avaya Holdings Corp. (NYSE:AVYA) ("Avaya" or "the Company") today reported that it had received a notice (the "Notice") from the New York Stock Exchange (the "NYSE") notifying the Company that, because the Company did not timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 (the "Form 10-Q"), it is not in compliance with Section 802.01E of the NYSE Listed Company Manual, which requires that NYSE-listed companies timely file all periodic reports with the Securities and Exchange Commission (the "SEC"). The Company had previously disclosed that it would not be able to timely file the Form 10-Q due to the circumstances described in the Form 12b-25 filed with the SEC
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Live Leadership Updates
Industry Veteran Brings Over 30 Years of Software and Cloud-Based Business Experience to Lead Avaya's Business Model Transformation Avaya Holdings Corp. (NYSE:AVYA) today announced that Alan Masarek has been appointed as its President and CEO and as a member of Avaya's Board of Directors, effective August 1, 2022. Mr. Masarek will succeed Jim Chirico, who will be removed from his positions as President and CEO of Avaya, effective August 1, 2022, and is resigning as a member of Avaya's Board. Mr. Chirico will remain employed with Avaya through August 16, 2022 and will work with Mr. Masarek to ensure a smooth transition for all stakeholders. Mr. Masarek is an industry innovator with deep do
RALEIGH-DURHAM, N.C.--(BUSINESS WIRE)--Avaya (NYSE:AVYA), a global leader in solutions to enhance and simplify communications and collaboration, has appointed Kathleen Sullivan as Vice President to lead a newly created Commercial Segment team in North America. Sullivan is responsible for delivering cloud-focused resources for SMB, Midmarket and Enterprise customers and the partners that serve them, to further enable this large segment of new and existing customers to realize the benefits of Avaya OneCloud experience platform solutions. “As Avaya accelerates its transformation as a cloud and SaaS leader, we continue to evolve our team, and the Commercial Segment group is guiding b
RALEIGH-DURHAM, N.C.--(BUSINESS WIRE)--Avaya (NYSE: AVYA), a global leader in solutions to enhance and simplify communications and collaboration, today announced a strategic addition to its executive team focused on ensuring optimal business outcomes for its customers, as Tony Alfano joins the company in the newly created role of Senior Vice President, Global Services. Reporting to EVP and Chief Revenue Officer Stephen Spears, Alfano is responsible for selling and delivering services to accelerate customer success, provide a seamless experience for Avaya’s global customer base to consume new and innovative service offerings, and enhance the company’s service capabilities to addre
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Live finance-specific insights
Avaya Holdings Corp. (NYSE:AVYA) ("Avaya" or "the Company") today reported selected additional preliminary financial results for the third quarter of fiscal 2022 ended June 30, 2022. All financial results for the third quarter ended June 30, 2022 and related comparisons to prior periods included in this release are preliminary, have not been reviewed or audited, are based on the Company's estimates and were prepared prior to the completion of the Company's financial statement close process. Preliminary Third Quarter Financial Results Highlights Revenues of $577 million, down 20% year over year in constant currency OneCloud ARR (Annualized Recurring Revenue) was approximately $838 milli
Avaya Holdings Corp. (NYSE:AVYA) today announced certain preliminary financial results for the third quarter ended June 30, 2022 and expects to release full results for the third quarter on August 9, 2022. Based on the information currently available for the third quarter ended June 30, 2022, the company expects revenue to be between $575 million and $580 million, compared to guidance of $685 million to $700 million, and Adjusted EBITDA to be between $50 million and $55 million, compared to guidance of $140 million to $150 million.1 The company is also finalizing testing of its goodwill and intangible assets that is expected to result in significant non-cash impairment charges as of June 3
Total revenue was $716 million Avaya OneCloud™ ARR increased 118% year over year to $750 million Avaya OneCloud™ ARR increased $130 million sequentially, a record quarterly contribution Signed ~100 deals with TCV greater than $1 million for the 8th consecutive quarter Avaya Holdings Corp. (NYSE:AVYA) today reported financial results for the second quarter of fiscal 2022 ended March 31, 2022. Second Quarter Financial Highlights Revenues of $716 million, down 2% year over year in constant currency OneCloud ARR (Annualized Recurring Revenue) was $750 million, up 21% sequentially and 118% from a year ago CAPS (Cloud, Alliance Partner and Subscription) was 54% of revenue, up from 40%
Avaya Holdings Corp. (NYSE:AVYA) today announced it will report financial results for the second quarter of fiscal 2022 ended March 31, 2022 on Tuesday, May 10, 2022 before the market open. Avaya will host a live webcast and conference call to discuss its financial results at 8:30 a.m. Eastern Time. On the call will be Jim Chirico, President and CEO, and Kieran McGrath, Executive Vice President and CFO. To access the conference call by phone, listeners should dial +1-877-858-7671 in the U.S. or Canada and +1-201-389-0939 for international callers. A replay of the conference call will be available for one week by dialing +1-877-660-6853 in the U.S. or Canada and +1-201-612-7415 for internat
Total revenue was $713 million Avaya OneCloud™ ARR increased 137% year over year to $620 million Signed 100+ deals with TCV greater than $1 million, for the 7th consecutive quarter Signed largest Avaya OneCloud deal in the company's history Avaya Holdings Corp. (NYSE:AVYA) today reported financial results for the first quarter of fiscal 2022 ended December 31, 2021. First Quarter Financial Highlights Revenues of $713 million OneCloud ARR (Annualized Recurring Revenue) was $620 million, up 17% sequentially and 137% from a year ago CAPS (Cloud, Alliance Partner and Subscription) was 44% of revenue, up from 34% a year ago Software and Services were 86%; Software was 62% of total r
Avaya Holdings Corp. (NYSE:AVYA) today announced it will report financial results for the first quarter of fiscal 2022 ended December 31, 2021 on Wednesday, February 9, 2022 before the market open. Avaya will host a live webcast and conference call to discuss its financial results at 8:30 a.m. Eastern Time. On the call will be Jim Chirico, President and CEO, and Kieran McGrath, Executive Vice President and CFO. To access the conference call by phone, listeners should dial +1-877-858-7671 in the U.S. or Canada and +1-201-389-0939 for international callers. A replay of the conference call will be available for one week by dialing +1-877-660-6853 in the U.S. or Canada and +1-201-612-7415 for
Q4 revenues of $760 million; FY21 revenue $2.973 billion - an increase of 3.5% year over year Avaya OneCloud™ ARR for Q4 increased 177% year over year to $530 million Cloud, Alliance Partner and Subscription revenue was a record 44% for Q4 and 40% for FY21 Signed 119 deals with TCV greater than $1 million, 18 over $5 million and 7 over $10 million in Q4 Avaya Holdings Corp. (NYSE:AVYA) today reported financial results for the fourth quarter of fiscal 2021 ended September 30, 2021. Financial Highlights Q4 Revenues of $760 million and fiscal 2021 revenues of $2.973 billion. Fiscal 2021 revenue includes an adjustment of approximately $15 million for the cumulative effect of an understat
Avaya Holdings Corp. (NYSE:AVYA) today announced it will report financial results for the fourth quarter of fiscal 2021 ended September 30, 2021 on Monday, November 22, 2021 before the market open. Avaya will host a live webcast and conference call to discuss its financial results at 8:30 a.m. Eastern Time. On the call will be Jim Chirico, President and CEO, and Kieran McGrath, Executive Vice President and CFO. The call will be moderated by Mike McCarthy, Vice President of Investor Relations. To access the conference call by phone, listeners should dial +1-877-858-7671 in the U.S. or Canada and +1-201-389-0939 for international callers. A replay of the conference call will be available for
Avaya (NYSE:AVYA), a global leader in solutions to enhance and simplify communications and collaboration, today announced it has acquired CTIntegrations, a specialized contact center software development and system integration company based in Austin, Texas. CTIntegrations provides Avaya with additional digital capabilities for its extensive contact center customer base and will further enhance the Avaya OneCloud™ AI-powered experience platform. CTIntegrations is the company behind CT Suite and its connectors, and has been part of the Avaya DevConnect partner ecosystem, bringing deep expertise in the Avaya OneCloud platform and an understanding of its customers' evolving needs. Many curren
Total revenue increased 2% year over year to $732 million Avaya OneCloud™ ARR increased over 275% year over year to $425 million Raising ARR guidance and expects ARR to reach $1 billion by end of 2022 Avaya Holdings Corp. (NYSE:AVYA) today reported financial results for the third quarter of fiscal 2021 ended June 30, 2021. Third Quarter Financial Highlights Revenues of $732 million, up 2% from a year ago OneCloud ARR was $425 million, up 23% sequentially CAPS (Cloud, Alliance Partner and Subscription) was 40% of revenue, up from 30% a year ago Software and services were 88% of revenue, down from 89% a year ago Recurring revenue was 64%, flat to 64% a year ago GAAP Operating