AvePoint (NASDAQ:AVPT) Given New $15.00 Price Target at Scotiabank

AvePoint (NASDAQ:AVPT) had its target price upped by Scotiabank from $12.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

AVPT has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AvePoint in a research report on Wednesday, June 24th. Evercore restated an “outperform” rating and set a $16.00 price target on shares of AvePoint in a research note on Friday. Zacks Research raised AvePoint from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. 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 report on Friday. Finally, DA Davidson reaffirmed a “buy” rating and set a $18.00 price objective on shares of AvePoint in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, AvePoint currently has an average rating of “Moderate Buy” and an average target price of $16.44.

AvePoint Stock Performance

AvePoint stock opened at $12.79 on Friday. AvePoint has a 1-year low of $8.84 and a 1-year high of $16.77. The firm’s fifty day simple moving average is $11.81 and its 200-day simple moving average is $10.93. The company has a market capitalization of $2.71 billion, a P/E ratio of 39.97 and a beta of 1.16.

AvePoint (NASDAQ:AVPT) last posted its earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The company 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 predict that AvePoint will post 0.21 earnings per share for the current year.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 5,176 shares of the company’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 sale, the insider directly owned 809,664 shares in the company, valued at $10,574,211.84. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On AvePoint

Institutional investors and hedge funds have recently made changes to their positions in the company. Peregrine Capital Management LLC acquired a new position in AvePoint in the fourth quarter worth $10,362,000. Vanguard Group Inc. increased its stake in shares of AvePoint by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 17,404,543 shares of the company’s stock valued at $241,749,000 after buying an additional 195,404 shares in the last quarter. Jennison Associates LLC increased its stake in shares of AvePoint by 11.1% in the fourth quarter. Jennison Associates LLC now owns 4,173,280 shares of the company’s stock valued at $57,967,000 after buying an additional 417,625 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of AvePoint by 83.2% in the first quarter. Y Intercept Hong Kong Ltd now owns 232,250 shares of the company’s stock valued at $2,209,000 after buying an additional 105,471 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of AvePoint by 9.4% in the first quarter. Bank of New York Mellon Corp now owns 789,069 shares of the company’s stock valued at $7,504,000 after buying an additional 67,514 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.