AvePoint (NASDAQ:AVPT) Price Target Raised to $17.00

AvePoint (NASDAQ:AVPT) had its target price boosted by Citigroup from $14.00 to $17.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also commented on the stock. Jefferies Financial Group raised their price target on shares of AvePoint from $16.00 to $20.00 and gave the company a “buy” rating in a report on Sunday, October 25th. Wall Street Zen downgraded shares of AvePoint from a “buy” rating to a “hold” rating in a research note on Sunday. Cantor Fitzgerald boosted their price objective on shares of AvePoint from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Stephens increased their price objective on shares of AvePoint from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. Finally, Weiss Ratings raised shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

AvePoint Price Performance

Shares of NASDAQ:AVPT opened at $16.55 on Monday. The firm has a market capitalization of $3.50 billion, a PE ratio of 48.68 and a beta of 1.13. The business has a 50-day moving average of $14.72 and a two-hundred day moving average of $12.06. AvePoint has a 12 month low of $8.84 and a 12 month high of $17.52.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $129.39 million. AvePoint had a return on equity of 17.26% and a net margin of 15.67%. As a group, research analysts anticipate that AvePoint will post 0.25 earnings per share for the current year.

Insider Activity

In other news, insider Brian Brown sold 35,000 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $16.42, for a total value of $574,700.00. Following the completion of the sale, the insider owned 224,604 shares in the company, valued at approximately $3,687,997.68. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 ninety days. 22.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AvePoint

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in 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 in the last quarter. 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 purchasing an additional 815,074 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of AvePoint during the second quarter valued at approximately $8,848,000. Dimensional Fund Advisors LP lifted its position in shares of AvePoint by 25.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after purchasing an additional 666,422 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of AvePoint by 25.0% during the first 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 in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

AvePoint provides cloud-based software for managing, protecting and governing data in cloud collaboration environments. Its products help organizations back up and restore data, manage access and compliance policies, and migrate content between platforms. The company’s offerings support services including Microsoft 365, Salesforce and Google Workspace. AvePoint also provides tools for data governance, records management and collaboration, serving organizations across a range of industries and geographies.