Stephens Forecasts Strong Price Appreciation for AvePoint (NASDAQ:AVPT) Stock

AvePoint (NASDAQ:AVPT) had its target price boosted by Stephens from $16.00 to $17.00 in a research note issued on Monday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. Stephens’ price target indicates a potential upside of 29.77% from the stock’s current price.

Several other brokerages have also recently commented on AVPT. DA Davidson restated a “buy” rating and set a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. Scotiabank increased their price objective 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. Wall Street Zen raised shares of AvePoint from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Evercore restated an “outperform” rating and set a $16.00 target price on shares of AvePoint in a research report on Friday, August 7th. Finally, TD Cowen boosted their target price on shares of AvePoint from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.36.

AvePoint Price Performance

Shares of AVPT stock opened at $13.10 on Monday. The business has a fifty day moving average of $13.19 and a 200 day moving average of $11.44. AvePoint has a 1 year low of $8.84 and a 1 year high of $15.75. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 40.94 and a beta of 1.19.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $121.38 million. As a group, equities research analysts expect that AvePoint will post 0.25 earnings per share for the current year.

Insider Activity 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 transaction of $852,000.00. Following the completion of the transaction, the insider directly owned 384,604 shares of the company’s stock, valued at $5,461,376.80. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 80,000 shares of company stock worth $1,115,696. 22.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVPT. PNC Financial Services Group Inc. boosted its stake in shares of AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after acquiring an additional 2,689 shares in the last quarter. GAMMA Investing LLC raised its holdings in AvePoint by 26.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock worth $43,000 after purchasing an additional 802 shares during the period. Allworth Financial LP raised its holdings in AvePoint by 109.6% in the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock worth $57,000 after purchasing an additional 2,649 shares during the period. Versant Capital Management Inc boosted its position in AvePoint by 26.8% during the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock worth $90,000 after purchasing an additional 1,701 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in AvePoint during the second quarter worth approximately $96,000. Hedge funds and other institutional investors 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.