AvePoint (NASDAQ:AVPT) Rating Lowered to Hold at Zacks Research

AvePoint (NASDAQ:AVPT) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on AVPT. TD Cowen increased their price target on shares of AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen downgraded shares of AvePoint from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price objective on shares of AvePoint in a research report on Wednesday, May 13th. DA Davidson reissued a “buy” rating and set a $18.00 target price on shares of AvePoint in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of AvePoint in a research report on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.44.

AvePoint Trading Up 1.1%

AVPT opened at $13.13 on Monday. AvePoint has a 12-month low of $8.84 and a 12-month high of $16.77. The firm has a market capitalization of $2.78 billion, a PE ratio of 41.03 and a beta of 1.16. The firm has a 50 day moving average of $11.88 and a two-hundred day moving average of $10.94.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $124.50 million for the quarter, compared to analysts’ expectations of $121.38 million. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. As a group, analysts predict that AvePoint will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other AvePoint news, insider Brian Michael Brown sold 5,176 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $13.06, for a total value of $67,598.56. Following the transaction, the insider owned 809,664 shares in the company, valued at approximately $10,574,211.84. This trade represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.66% of the company’s stock.

Institutional Investors Weigh In On AvePoint

A number of hedge funds have recently modified their holdings of AVPT. Bank of New York Mellon Corp purchased a new position in shares of AvePoint in the second quarter worth about $8,848,000. Handelsbanken Fonder AB boosted its position in AvePoint by 43.4% during the second quarter. Handelsbanken Fonder AB now owns 44,300 shares of the company’s stock worth $497,000 after acquiring an additional 13,400 shares during the last quarter. GAMMA Investing LLC grew its stake in AvePoint by 26.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after acquiring an additional 802 shares in the last quarter. Versant Capital Management Inc grew its stake in AvePoint by 26.8% during the 2nd quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock valued at $90,000 after acquiring an additional 1,701 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in AvePoint by 25.8% during the 1st quarter. Pacer Advisors Inc. now owns 26,892 shares of the company’s stock valued at $256,000 after acquiring an additional 5,511 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors and hedge funds.

About AvePoint

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.