AvePoint (NASDAQ:AVPT) Given New $13.00 Price Target at Citigroup

AvePoint (NASDAQ:AVPT) had its price objective lowered by equities researchers at Citigroup from $15.00 to $13.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 22.70% from the company’s previous close.

AVPT has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c-)” rating on shares of AvePoint in a report on Monday, December 29th. Jefferies Financial Group reduced their price objective on shares of AvePoint from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Zacks Research downgraded AvePoint from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Cantor Fitzgerald cut their target price on AvePoint from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Stephens began coverage on AvePoint in a research note on Monday, December 29th. They issued an “overweight” rating and a $18.00 price target for the company. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

AvePoint Stock Performance

Shares of AVPT traded down $0.19 during trading hours on Monday, reaching $10.60. The stock had a trading volume of 1,796,453 shares, compared to its average volume of 2,129,929. AvePoint has a 12 month low of $9.85 and a 12 month high of $20.25. The stock has a market capitalization of $2.29 billion, a PE ratio of 66.27 and a beta of 1.12. The company’s 50-day moving average is $12.13 and its two-hundred day moving average is $13.65.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). AvePoint had a return on equity of 8.19% and a net margin of 8.34%.The firm had revenue of $114.69 million for the quarter, compared to the consensus estimate of $110.94 million. Equities analysts anticipate that AvePoint will post -0.03 earnings per share for the current fiscal year.

Insider Activity at AvePoint

In other AvePoint news, Chairman Xunkai Gong sold 27,998 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $13.39, for a total value of $374,893.22. Following the transaction, the chairman directly owned 14,920,668 shares of the company’s stock, valued at approximately $199,787,744.52. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Okabena Investment Services Inc. purchased a new position in AvePoint in the second quarter valued at approximately $780,000. Quantbot Technologies LP increased its position 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 buying an additional 302,577 shares during the last quarter. Next Century Growth Investors LLC raised its stake in shares of AvePoint by 53.0% in the second quarter. Next Century Growth Investors LLC now owns 1,019,773 shares of the company’s stock valued at $19,692,000 after buying an additional 353,089 shares during the period. EFG Asset Management North America Corp. raised its stake in shares of AvePoint by 136.1% in 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 buying an additional 93,994 shares during the period. Finally, Sierra Summit Advisors LLC purchased a new position in shares of AvePoint during the 2nd quarter valued at $804,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.