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

AvePoint, Inc. (NASDAQ:AVPT) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.41.

Several analysts recently weighed in on AVPT shares. BMO Capital Markets began coverage on AvePoint in a report on Tuesday, October 6th. They issued an “outperform” rating and a $17.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of AvePoint in a report on Tuesday, September 22nd. Citigroup reissued a “neutral” rating on shares of AvePoint in a research report on Wednesday, August 12th. Stephens raised their target price on shares of AvePoint from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Finally, Phillip Securities upgraded shares of AvePoint to a “moderate buy” rating in a report on Monday, October 5th.

Insider Transactions at AvePoint

In related news, insider Brian Brown sold 60,000 shares of AvePoint stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the transaction, the insider directly owned 384,604 shares of the company’s stock, valued at $5,461,376.80. This trade 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 have sold 128,894 shares of company stock worth $1,825,241 over the last 90 days. Company insiders own 22.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in AvePoint by 620.9% in 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 buying an additional 1,843,641 shares in the last quarter. SG Americas Securities LLC raised its position in shares of AvePoint by 335.2% in the first 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 boosted its stake in shares of AvePoint by 106.7% during 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of AvePoint by 185.8% during the 1st quarter. Bank of America Corp DE now owns 1,253,662 shares of the company’s stock worth $11,922,000 after acquiring an additional 815,074 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of AvePoint during the 2nd quarter worth about $8,848,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $14.00 on Thursday. AvePoint has a 52-week low of $8.84 and a 52-week high of $15.43. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 43.75 and a beta of 1.17. The stock has a 50 day moving average price of $13.54 and a 200 day moving average price of $11.84.

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

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.