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

Shares of AvePoint, Inc. (NASDAQ:AVPT) have been given an average rating of “Moderate Buy” by the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.4417.

A number of analysts have recently commented on AVPT shares. TD Cowen upped their price target on AvePoint from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Scotiabank raised their target price 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. DA Davidson reaffirmed a “buy” rating and set a $18.00 price target on shares of AvePoint in a research report on Monday, July 6th. Citigroup reaffirmed a “neutral” rating on shares of AvePoint in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th.

AvePoint Price Performance

Shares of AvePoint stock opened at $13.60 on Friday. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $16.06. The firm has a market cap of $2.88 billion, a P/E ratio of 42.50 and a beta of 1.19. The firm has a 50 day simple moving average of $13.12 and a 200 day simple moving average of $11.35.

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

Insider Buying and Selling at AvePoint

In other news, insider Brian Brown sold 60,000 shares of AvePoint 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 completion of the sale, the insider directly owned 384,604 shares in the company, valued at approximately $5,461,376.80. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 80,000 shares of company stock valued at $1,115,696 in the last three months. 22.66% of the stock is currently owned by insiders.

Institutional Trading of AvePoint

Institutional investors and hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in AvePoint by 620.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock worth $29,733,000 after purchasing an additional 1,843,641 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of AvePoint by 335.2% during the first quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock valued at $22,745,000 after purchasing an additional 1,842,124 shares in the last quarter. Wellington Management Group LLP boosted its position 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 lifted its holdings 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 worth $11,922,000 after purchasing an additional 815,074 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of AvePoint in the 2nd quarter valued at about $8,848,000. Institutional investors own 44.49% of the company’s stock.

About AvePoint

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.