Scotiabank Issues Positive Forecast for AvePoint (NASDAQ:AVPT) Stock Price

AvePoint (NASDAQ:AVPT) had its price target raised by equities researchers at Scotiabank from $12.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 17.28% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen lowered AvePoint from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $14.00 price target on shares of AvePoint in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of AvePoint in a report on Wednesday, June 24th. TD Cowen upped their price objective on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Zacks Research upgraded shares of AvePoint from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.44.

AvePoint Stock Performance

NASDAQ:AVPT opened at $12.79 on Friday. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 39.97 and a beta of 1.16. The stock has a 50-day moving average price of $11.81 and a two-hundred day moving average price of $10.93. AvePoint has a 1 year low of $8.84 and a 1 year high of $16.77.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. The firm had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. Sell-side analysts forecast that AvePoint will post 0.21 earnings per share for the current year.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 5,176 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $13.06, for a total transaction of $67,598.56. Following the transaction, the insider directly owned 809,664 shares of the company’s stock, valued at approximately $10,574,211.84. The trade was a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.66% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of AvePoint by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 17,404,543 shares of the company’s stock worth $241,749,000 after buying an additional 195,404 shares during the last quarter. Parsifal Capital Management LP lifted its position in AvePoint by 61.2% during the third quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock worth $127,926,000 after acquiring an additional 3,235,384 shares during the last quarter. Morgan Stanley boosted its holdings in shares of AvePoint by 372.6% during the fourth quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock worth $109,332,000 after acquiring an additional 6,205,829 shares during the period. Jennison Associates LLC grew its position in shares of AvePoint by 11.1% in the fourth quarter. Jennison Associates LLC now owns 4,173,280 shares of the company’s stock valued at $57,967,000 after purchasing an additional 417,625 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in AvePoint by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 3,643,473 shares of the company’s stock worth $50,614,000 after purchasing an additional 234,080 shares during the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Company Profile

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.