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Fly News Breaks for March 15, 2019
AVID
Mar 15, 2019 | 05:24 EDT
While Avid Technology's bookings and annual contract value in Q4 were negatively impacted by two deals slipping, the company has already closed one and expects to close the other, Jefferies analyst Samad Samana tells investors in a post-earnings research note. He believes that while "there is work to be done," the company's Q4 "represents solid progress on the leadership team's plan." The analyst maintains a Hold rating on Avid with a $6.50 price target.
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