AvePoint (NASDAQ:AVPT) Upgraded to Buy at Wall Street Zen

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

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group raised their target price on shares of AvePoint from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Sunday, October 25th. Zacks Research cut AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Phillip Securities raised shares of AvePoint to a “moderate buy” rating in a research report on Monday, October 5th. TD Cowen upped their target price on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, BMO Capital Markets assumed coverage on shares of AvePoint in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $17.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, AvePoint currently has a consensus rating of “Moderate Buy” and an average target price of $16.55.

AvePoint Stock Performance

Shares of AVPT stock opened at $17.09 on Friday. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 53.41 and a beta of 1.17. The firm’s 50-day simple moving average is $14.22 and its two-hundred day simple moving average is $11.91. AvePoint has a 52 week low of $8.84 and a 52 week high of $17.52.

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

Insider Buying and Selling

In related news, insider Brian Brown sold 35,000 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $16.42, for a total value of $574,700.00. Following the completion of the sale, the insider directly owned 224,604 shares of the company’s stock, valued at approximately $3,687,997.68. This represents a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 230,000 shares of company stock valued at $3,430,412 in the last three months. Corporate insiders own 22.66% of the company’s stock.

Institutional Trading of AvePoint

Several institutional investors have recently made changes to their positions in AVPT. Wellington Management Group LLP raised its stake in shares of AvePoint by 106.7% in the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock valued at $31,125,000 after acquiring an additional 1,433,299 shares during the period. Bank of America Corp DE raised its stake in shares of AvePoint by 185.8% during the first quarter. Bank of America Corp DE now owns 1,253,662 shares of the company’s stock valued at $11,922,000 after acquiring an additional 815,074 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in AvePoint during the 2nd quarter valued at $8,848,000. Dimensional Fund Advisors LP lifted its stake in AvePoint by 25.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after acquiring an additional 666,422 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position 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 purchasing an additional 535,015 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

About AvePoint

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.