Brokerages Set AvePoint, Inc. (NASDAQ:AVPT) PT at $16.44

Shares of AvePoint, Inc. (NASDAQ:AVPT) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.4417.

AVPT has been the topic of several recent research reports. Zacks Research downgraded AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Evercore reiterated an “outperform” rating and issued a $16.00 price objective on shares of AvePoint in a research note on Friday, August 7th. TD Cowen boosted their price objective on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Scotiabank upped their target price on shares of AvePoint from $12.00 to $15.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 7th.

Insider Buying and Selling

In other AvePoint news, insider Brian Brown sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the transaction, the insider owned 384,604 shares in the company, valued at $5,461,376.80. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing 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.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in AvePoint by 620.9% in the fourth 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 buying an additional 1,843,641 shares during the last quarter. SG Americas Securities LLC raised its stake in AvePoint by 335.2% in the first quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock valued at $22,745,000 after buying an additional 1,842,124 shares in the last quarter. 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. Bank of America Corp DE lifted its holdings in AvePoint by 185.8% during the 1st quarter. Bank of America Corp DE now owns 1,253,662 shares of the company’s stock worth $11,922,000 after buying an additional 815,074 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in AvePoint during the 2nd quarter worth about $8,848,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Stock Down 2.4%

NASDAQ:AVPT opened at $13.19 on Friday. The company has a fifty day simple moving average of $13.17 and a two-hundred day simple moving average of $11.40. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 41.22 and a beta of 1.19. AvePoint has a 52 week low of $8.84 and a 52 week high of $15.93.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings data 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 business had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. On average, analysts expect that AvePoint will post 0.25 EPS for the current year.

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.