AvePoint, Inc. (NASDAQ:AVPT) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

AvePoint, Inc. (NASDAQ:AVPT) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.41.

AVPT has been the subject of several recent research reports. Scotiabank lifted their price objective on AvePoint from $12.00 to $15.00 and gave the stock a “sector outperform” rating in a report on Friday, August 7th. Zacks Research lowered AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Evercore reiterated an “outperform” rating and set a $16.00 price target on shares of AvePoint in a research report on Friday, August 7th. Citigroup reaffirmed a “neutral” rating on shares of AvePoint in a report on Wednesday, August 12th. Finally, TD Cowen boosted their price target on shares of AvePoint from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 7th.

AvePoint Price Performance

AVPT opened at $14.57 on Thursday. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $15.43. The firm has a market capitalization of $3.08 billion, a P/E ratio of 45.53 and a beta of 1.17. The company’s 50-day moving average is $13.51 and its 200 day moving average is $11.78.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results 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 analyst estimates of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. On average, equities research analysts expect that AvePoint will post 0.25 earnings per share for the current year.

Insider Activity

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 value of $852,000.00. Following the completion of the sale, the insider owned 384,604 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 128,894 shares of company stock valued at $1,825,241. 22.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

AvePoint Company Profile

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.