AvePoint (NASDAQ:AVPT) Stock Gets Downgrade from Wall Street Zen

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

Other analysts also recently issued research reports about the company. Zacks Research downgraded AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Phillip Securities raised AvePoint to a “moderate buy” rating in a research report on Monday, October 5th. DA Davidson reiterated a “buy” rating and set a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. Weiss Ratings raised AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Scotiabank boosted their target price on AvePoint from $12.00 to $15.00 and gave the stock a “sector outperform” rating in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and an average price target of $16.41.

AvePoint Price Performance

NASDAQ:AVPT opened at $14.63 on Friday. AvePoint has a one year low of $8.84 and a one year high of $15.48. The company’s 50-day simple moving average is $13.49 and its 200 day simple moving average is $11.74. The firm has a market capitalization of $3.10 billion, a P/E ratio of 45.72 and a beta of 1.17.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $121.38 million. On average, equities research analysts expect that AvePoint will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AvePoint news, insider Brian Brown sold 28,894 shares of AvePoint stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $15.15, for a total value of $437,744.10. Following the completion of the transaction, the insider directly owned 335,710 shares of the company’s stock, valued at approximately $5,086,006.50. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 128,894 shares of company stock worth $1,825,241. 22.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVPT. Ausbil Investment Management Ltd bought a new stake in AvePoint in the 3rd quarter worth about $358,000. Scholtz & Company LLC bought a new position in AvePoint during the 2nd quarter valued at about $1,975,000. Integrated Wealth Concepts LLC bought a new position in AvePoint during the 2nd quarter valued at about $96,000. Allworth Financial LP lifted its stake in AvePoint by 109.6% during the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock valued at $57,000 after acquiring an additional 2,649 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in shares of AvePoint during the 2nd quarter valued at about $240,000. Institutional investors own 44.49% of the company’s stock.

About AvePoint

AvePoint, Inc (NASDAQ: AVPT) provides data-management, governance and protection solutions for organizations using cloud collaboration platforms. Its products are designed to help businesses migrate, manage, protect and optimize data across services such as Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s offerings include cloud backup and recovery, data migration, records and information management, compliance, security and workspace governance. AvePoint delivers these capabilities through its cloud-based platform and related software, helping organizations manage data throughout its lifecycle while supporting collaboration and regulatory requirements.

Founded in 2001, AvePoint serves customers globally across a range of industries, including public-sector organizations, education, healthcare and commercial enterprises.