AvePoint (NASDAQ:AVPT) Given New $17.00 Price Target at Stephens

AvePoint (NASDAQ:AVPT) had its price objective boosted by Stephens from $16.00 to $17.00 in a research note published on Monday morning, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on the stock. Zacks Research lowered shares of AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Citigroup reiterated a “neutral” rating on shares of AvePoint in a research note on Wednesday, August 12th. Weiss Ratings raised AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Evercore restated an “outperform” rating and set a $16.00 price objective on shares of AvePoint in a research note on Friday, August 7th. Finally, TD Cowen lifted their price objective on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.36.

AvePoint Trading Up 1.3%

NASDAQ AVPT opened at $13.36 on Monday. AvePoint has a twelve month low of $8.84 and a twelve month high of $15.89. The business’s 50-day moving average price is $13.18 and its 200 day moving average price is $11.43. The company has a market capitalization of $2.83 billion, a PE ratio of 41.75 and a beta of 1.19.

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

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Brown sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the sale, the insider owned 384,604 shares in the company, valued at $5,461,376.80. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,000 shares of company stock worth $1,115,696 in the last 90 days. Corporate insiders own 22.66% of the company’s stock.

Institutional Investors Weigh In On AvePoint

A number of institutional investors have recently made changes to their positions in AVPT. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of AvePoint by 620.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock valued at $29,733,000 after acquiring an additional 1,843,641 shares during the period. SG Americas Securities LLC increased its holdings in shares of AvePoint by 335.2% in the 1st quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock worth $22,745,000 after acquiring an additional 1,842,124 shares during the period. Wellington Management Group LLP increased its holdings in shares of AvePoint by 106.7% in the 2nd quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock worth $31,125,000 after acquiring an additional 1,433,299 shares during the period. Bank of America Corp DE lifted its position in AvePoint by 185.8% in the 1st quarter. Bank of America Corp DE now owns 1,253,662 shares of the company’s stock valued at $11,922,000 after purchasing an additional 815,074 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in AvePoint in the 2nd quarter valued at about $8,848,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Company Profile

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.