Wall Street Zen Upgrades AvePoint (NASDAQ:AVPT) to “Buy”

AvePoint (NASDAQ:AVPT) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also recently issued reports on the stock. Scotiabank upped their target price on shares of AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Evercore reissued an “outperform” rating and set a $16.00 price objective on shares of AvePoint in a research note on Friday, August 7th. TD Cowen boosted their price objective on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Zacks Research downgraded AvePoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.44.

AvePoint Stock Performance

Shares of AVPT opened at $12.66 on Friday. The stock has a market capitalization of $2.68 billion, a PE ratio of 39.56 and a beta of 1.19. The company’s fifty day moving average is $13.07 and its 200 day moving average is $11.30. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $16.09.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. The business had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.38 million. As a group, research analysts forecast that AvePoint will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Brian Brown sold 60,000 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total value of $852,000.00. Following the sale, the insider owned 384,604 shares of the company’s stock, valued at approximately $5,461,376.80. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 80,000 shares of company stock worth $1,115,696 in the last quarter. Insiders own 22.66% of the company’s stock.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently made changes to their positions in AVPT. Kestra Advisory Services LLC purchased a new stake in AvePoint in the 4th quarter worth about $28,000. PNC Financial Services Group Inc. lifted its stake in AvePoint by 933.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after purchasing an additional 2,689 shares during the last quarter. Vestcor Inc purchased a new position in shares of AvePoint during the third quarter valued at approximately $45,000. Kemnay Advisory Services Inc. purchased a new position in shares of AvePoint during the fourth quarter valued at approximately $47,000. Finally, GAMMA Investing LLC boosted its position in shares of AvePoint by 26.6% during the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after buying an additional 802 shares during the period. 44.49% of the stock is owned by hedge funds and other institutional investors.

About AvePoint

AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.

The company’s product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.