Citigroup Cuts AvePoint (NASDAQ:AVPT) Price Target to $15.00

AvePoint (NASDAQ:AVPT) had its price target trimmed by Citigroup from $16.00 to $15.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also issued reports on the company. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a report on Monday, October 6th. Baird R W raised AvePoint to a “hold” rating in a research report on Monday, October 27th. Morgan Stanley set a $18.30 price target on AvePoint in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AvePoint in a research note on Monday, December 29th. Finally, Evercore ISI dropped their target price on shares of AvePoint from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, AvePoint currently has an average rating of “Moderate Buy” and a consensus target price of $18.66.

AvePoint Trading Up 0.3%

NASDAQ:AVPT opened at $13.05 on Tuesday. AvePoint has a twelve month low of $11.49 and a twelve month high of $20.25. The stock has a fifty day simple moving average of $13.33 and a 200-day simple moving average of $15.20.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $109.73 million during the quarter, compared to the consensus estimate of $105.72 million. AvePoint had a return on equity of 0.66% and a net margin of 0.55%. Research analysts forecast that AvePoint will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In other AvePoint news, Chairman Xunkai Gong sold 41,679 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $13.96, for a total value of $581,838.84. Following the completion of the transaction, the chairman directly owned 15,058,989 shares in the company, valued at approximately $210,223,486.44. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Michael Brown sold 1,848 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $15.03, for a total transaction of $27,775.44. Following the completion of the sale, the insider owned 631,893 shares in the company, valued at $9,497,351.79. This represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 121,848 shares of company stock worth $1,674,485 in the last quarter. 26.19% of the stock is owned by insiders.

Hedge Funds Weigh In On AvePoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. Okabena Investment Services Inc. purchased a new position in AvePoint during the 2nd quarter worth $780,000. Next Century Growth Investors LLC boosted its holdings in AvePoint by 53.0% in the second quarter. Next Century Growth Investors LLC now owns 1,019,773 shares of the company’s stock worth $19,692,000 after acquiring an additional 353,089 shares in the last quarter. Quantbot Technologies LP boosted its holdings in AvePoint by 6,801.0% in the second quarter. Quantbot Technologies LP now owns 307,026 shares of the company’s stock worth $5,929,000 after acquiring an additional 302,577 shares in the last quarter. Jennison Associates LLC grew its stake in shares of AvePoint by 37.0% during the second quarter. Jennison Associates LLC now owns 2,908,473 shares of the company’s stock worth $56,163,000 after acquiring an additional 786,016 shares during the last quarter. Finally, EFG Asset Management North America Corp. increased its holdings in shares of AvePoint by 136.1% during the second quarter. EFG Asset Management North America Corp. now owns 163,066 shares of the company’s stock valued at $3,150,000 after acquiring an additional 93,994 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Company Profile

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.