Phillip Securities Upgrades AvePoint (NASDAQ:AVPT) to Moderate Buy

AvePoint (NASDAQ:AVPT) was upgraded by analysts at Phillip Securities to a “moderate buy” rating in a research note issued to investors on Monday, Zacks reports.

Other research analysts have also issued research reports about the stock. BMO Capital Markets initiated coverage on shares of AvePoint in a research note on Tuesday. They set an “outperform” rating and a $17.00 price objective for the company. Wall Street Zen upgraded shares of AvePoint from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. Evercore reaffirmed an “outperform” rating and issued a $16.00 price target on shares of AvePoint in a report on Friday, August 7th. Zacks Research downgraded AvePoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Scotiabank increased their price objective on AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.41.

AvePoint Price Performance

AVPT opened at $14.59 on Monday. The firm has a market capitalization of $3.09 billion, a PE ratio of 45.60 and a beta of 1.17. The business’s 50-day moving average is $13.40 and its two-hundred day moving average is $11.66. AvePoint has a 1 year low of $8.84 and a 1 year high of $15.48.

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

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Brown sold 60,000 shares of the company’s 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 transaction, the insider owned 384,604 shares in the company, valued at approximately $5,461,376.80. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 100,000 shares of company stock worth $1,387,496. Corporate insiders own 22.66% of the company’s stock.

Institutional Investors Weigh In On AvePoint

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in AvePoint by 26.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after acquiring an additional 802 shares during the period. Versant Capital Management Inc increased its stake in shares of AvePoint by 26.8% in the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock worth $90,000 after acquiring an additional 1,701 shares during the period. Allworth Financial LP increased its stake in shares of AvePoint by 109.6% in the second quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock worth $57,000 after acquiring an additional 2,649 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of AvePoint by 933.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after purchasing an additional 2,689 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of AvePoint by 35.5% during the first quarter. EverSource Wealth Advisors LLC now owns 14,379 shares of the company’s stock worth $137,000 after purchasing an additional 3,768 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.