AvePoint (NASDAQ:AVPT) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of AvePoint (NASDAQ:AVPT) in a research report released on Monday, Benzinga reports. The firm currently has a $10.00 price target on the stock.

A number of other analysts also recently weighed in on the stock. Citigroup upped their target price on shares of AvePoint from $5.80 to $7.00 and gave the stock a neutral rating in a research report on Tuesday, August 29th. TheStreet upgraded shares of AvePoint from a d+ rating to a c- rating in a report on Wednesday, May 31st.

AvePoint Trading Up 1.5 %

AvePoint stock opened at $6.83 on Monday. The firm’s fifty day moving average price is $6.32 and its two-hundred day moving average price is $5.52. AvePoint has a 1-year low of $3.40 and a 1-year high of $7.13. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -29.70 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.08). The company had revenue of $64.90 million during the quarter, compared to the consensus estimate of $61.78 million. AvePoint had a negative return on equity of 18.50% and a negative net margin of 16.71%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. On average, research analysts forecast that AvePoint will post -0.18 EPS for the current year.

Insider Buying and Selling at AvePoint

In related news, major shareholder Sixth Street Partners Manageme sold 16,666,600 shares of AvePoint stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $6.00, for a total transaction of $99,999,600.00. Following the sale, the insider now directly owns 1,885,806 shares in the company, valued at $11,314,836. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 25.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently made changes to their positions in the company. Credit Suisse AG raised its stake in shares of AvePoint by 4.1% in the second quarter. Credit Suisse AG now owns 62,474 shares of the company’s stock valued at $270,000 after acquiring an additional 2,470 shares during the last quarter. Legal & General Group Plc increased its position in AvePoint by 6.3% during the fourth quarter. Legal & General Group Plc now owns 42,901 shares of the company’s stock worth $176,000 after acquiring an additional 2,538 shares during the period. PFS Investments Inc. boosted its stake in shares of AvePoint by 23.7% in the fourth quarter. PFS Investments Inc. now owns 14,305 shares of the company’s stock valued at $59,000 after buying an additional 2,745 shares during the period. Price T Rowe Associates Inc. MD increased its stake in AvePoint by 14.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,865 shares of the company’s stock valued at $94,000 after acquiring an additional 2,901 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in AvePoint by 31.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,666 shares of the company’s stock valued at $73,000 after purchasing an additional 3,006 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Company Profile

AvePoint, Inc provides cloud-native software platform solutions. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others.