Why Avid Technology's Stock Is Trading Higher Today

Avid Technology, Inc. AVID shares are trading higher on Tuesday.

Northland Capital Markets initiated coverage on the stock with an Outperform rating and announced a price target of $14.

Avid Technology develops and sells software and hardware for digital media production and management. Its products are used in production, film studios, cable television stations, recording studios, and other agencies. The company has operations in the U.S.; the Americas; Europe, Middle East, and Africa; and Asia-Pacific.

Avid Technology shares were trading up 11.66% at $5.84 on Tuesday. The stock has a 52-week range between $10.79 and $4.67.