AvePoint, Inc. (NASDAQ:AVPT) Stock Has Consensus Price Target of $16.41

Shares of AvePoint, Inc. (NASDAQ:AVPT) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.41.

A number of analysts recently commented on the stock. Phillip Securities upgraded shares of AvePoint to a “moderate buy” rating in a research note on Monday, October 5th. BMO Capital Markets began coverage on shares of AvePoint in a research note on Tuesday. They set an “outperform” rating and a $17.00 price target on the stock. Stephens raised their price target on shares of AvePoint from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. DA Davidson reiterated a “buy” rating and set a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. Finally, Scotiabank boosted their price objective on shares of AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a report on Friday, August 7th.

AvePoint Stock Performance

AvePoint stock opened at $14.63 on Thursday. The stock has a 50-day moving average of $13.49 and a two-hundred day moving average of $11.73. AvePoint has a one year low of $8.84 and a one year high of $15.48. The stock has a market cap of $3.10 billion, a PE ratio of 45.72 and a beta of 1.17.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $121.38 million. As a group, sell-side analysts predict that AvePoint will post 0.25 EPS for the current fiscal year.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Brown sold 60,000 shares of AvePoint stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the sale, the insider owned 384,604 shares of the company’s stock, valued at approximately $5,461,376.80. The trade was a 13.50% decrease in their position. The sale 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. In the last ninety days, insiders sold 128,894 shares of company stock valued at $1,825,241. Company insiders own 22.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Ausbil Investment Management Ltd acquired a new stake in shares of AvePoint during the third quarter worth about $358,000. Scholtz & Company LLC acquired a new position in AvePoint in the 2nd quarter worth approximately $1,975,000. Integrated Wealth Concepts LLC acquired a new position in AvePoint in the 2nd quarter worth approximately $96,000. Allworth Financial LP raised its position in AvePoint by 109.6% during the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock worth $57,000 after buying an additional 2,649 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new stake in AvePoint during the 2nd quarter valued at approximately $240,000. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

AvePoint, Inc (NASDAQ: AVPT) provides data-management, governance and protection solutions for organizations using cloud collaboration platforms. Its products are designed to help businesses migrate, manage, protect and optimize data across services such as Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s offerings include cloud backup and recovery, data migration, records and information management, compliance, security and workspace governance. AvePoint delivers these capabilities through its cloud-based platform and related software, helping organizations manage data throughout its lifecycle while supporting collaboration and regulatory requirements.

Founded in 2001, AvePoint serves customers globally across a range of industries, including public-sector organizations, education, healthcare and commercial enterprises.