AvePoint (NASDAQ:AVPT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AvePoint (NASDAQ:AVPT) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also weighed in on the company. Evercore reaffirmed an “outperform” rating and set a $16.00 price objective on shares of AvePoint in a research report on Friday, August 7th. Zacks Research lowered AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. DA Davidson reiterated a “buy” rating and issued a $18.00 target price on shares of AvePoint in a report on Monday, July 6th. Weiss Ratings raised AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Citigroup restated a “neutral” rating on shares of AvePoint in a report on Wednesday, August 12th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, AvePoint presently has a consensus rating of “Moderate Buy” and an average target price of $16.44.

AvePoint Stock Performance

AvePoint stock opened at $13.60 on Friday. The company has a market capitalization of $2.88 billion, a PE ratio of 42.50 and a beta of 1.19. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $16.06. The firm has a 50 day moving average price of $13.10 and a 200 day moving average price of $11.32.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. AvePoint had a return on equity of 15.97% and a net margin of 15.33%.The business had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. As a group, equities research analysts forecast that AvePoint will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In other AvePoint news, insider Brian Brown sold 60,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total value of $852,000.00. Following the sale, the insider directly owned 384,604 shares of the company’s stock, valued at approximately $5,461,376.80. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 80,000 shares of company stock worth $1,115,696. Insiders own 22.66% of the company’s stock.

Hedge Funds Weigh In On AvePoint

A number of institutional investors and hedge funds have recently modified their holdings 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 last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AvePoint by 25.7% in the 1st 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of AvePoint by 620.9% in the 4th 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 acquiring an additional 1,843,641 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of AvePoint by 16.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock worth $24,537,000 after acquiring an additional 363,200 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of AvePoint by 994.0% during the 2nd quarter. California State Teachers Retirement System now owns 2,032,037 shares of the company’s stock worth $22,779,000 after acquiring an additional 1,846,288 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

AvePoint Company Profile

AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.

The company’s product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.