$54.63 Million in Sales Expected for AvePoint, Inc. (NASDAQ:AVPT) This Quarter

Wall Street analysts expect AvePoint, Inc. (NASDAQ:AVPTGet Rating) to announce $54.63 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for AvePoint’s earnings, with estimates ranging from $54.00 million to $55.00 million. AvePoint reported sales of $45.34 million during the same quarter last year, which would suggest a positive year over year growth rate of 20.5%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that AvePoint will report full year sales of $240.03 million for the current fiscal year, with estimates ranging from $238.00 million to $241.10 million. For the next fiscal year, analysts forecast that the firm will post sales of $304.93 million, with estimates ranging from $297.20 million to $316.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow AvePoint.

AvePoint (NASDAQ:AVPTGet Rating) last released its quarterly earnings data on Thursday, March 17th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $53.84 million during the quarter, compared to analyst estimates of $57.67 million. AvePoint had a negative net margin of 20.43% and a negative return on equity of 29.73%.

AVPT has been the topic of several research analyst reports. Zacks Investment Research raised AvePoint from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Tuesday. The Goldman Sachs Group lowered AvePoint from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research report on Monday, March 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $11.49.

Shares of NASDAQ AVPT traded up $0.28 during midday trading on Monday, hitting $5.82. The stock had a trading volume of 946,231 shares, compared to its average volume of 1,067,687. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.80 and a beta of 0.76. AvePoint has a 1-year low of $3.88 and a 1-year high of $12.55. The company has a fifty day moving average price of $5.07 and a 200 day moving average price of $5.83.

Hedge funds and other institutional investors have recently modified their holdings of the company. Phoenix Holdings Ltd. bought a new stake in shares of AvePoint in the 4th quarter valued at approximately $1,887,000. Penserra Capital Management LLC bought a new position in AvePoint during the 3rd quarter worth $160,000. Advisor Group Holdings Inc. bought a new position in AvePoint during the 3rd quarter worth $35,000. Monarch Alternative Capital LP bought a new position in AvePoint during the 3rd quarter worth $30,140,000. Finally, National Asset Management Inc. bought a new position in AvePoint during the 3rd quarter worth $389,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

AvePoint Company Profile (Get Rating)

AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products. The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.

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