AvePoint, Inc. (NASDAQ:AVPT) Stock Has Consensus Target Price of $16.55

Shares of AvePoint, Inc. (NASDAQ:AVPT) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $16.82.

Several equities research analysts have issued reports on the stock. Evercore reissued an “outperform” rating and issued a $16.00 price target on shares of AvePoint in a report on Friday, August 7th. Weiss Ratings upgraded shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Scotiabank boosted their price target on shares of AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a research report on Friday, August 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of AvePoint in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group lifted their target price on shares of AvePoint from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Sunday, October 25th.

Insider Activity

In related news, insider Brian Brown sold 35,000 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $16.42, for a total transaction of $574,700.00. Following the sale, the insider directly owned 224,604 shares in the company, valued at $3,687,997.68. This trade represents a 13.48% 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. Insiders have sold a total of 230,000 shares of company stock worth $3,430,412 over the last ninety days. 22.66% of the stock is owned by corporate insiders.

Institutional Trading of AvePoint

Several institutional investors and hedge funds have recently bought and sold shares of AVPT. Wellington Management Group LLP lifted its holdings in 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 buying an additional 1,433,299 shares during the period. Bank of America Corp DE grew its holdings in AvePoint by 185.8% in the first quarter. Bank of America Corp DE now owns 1,253,662 shares of the company’s stock worth $11,922,000 after purchasing an additional 815,074 shares during the period. Bank of New York Mellon Corp bought a new stake in AvePoint in the 2nd quarter valued at about $8,848,000. Dimensional Fund Advisors LP increased its holdings in shares of AvePoint by 25.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock valued at $31,040,000 after acquiring an additional 666,422 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of AvePoint by 25.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,675,587 shares of the company’s stock worth $25,445,000 after acquiring an additional 535,015 shares during the last quarter. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Up 2.8%

AVPT stock opened at $16.90 on Monday. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 52.81 and a beta of 1.13. The firm has a 50 day moving average of $14.43 and a two-hundred day moving average of $11.96. AvePoint has a 12 month low of $8.84 and a 12 month high of $17.52.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. The company had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. On average, research analysts expect that AvePoint will post 0.25 EPS for the current fiscal year.

AvePoint Company Profile

AvePoint, Inc (NASDAQ:AVPT) is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.