AvePoint (NASDAQ:AVPT) Shares Gap Up – Here’s What Happened

AvePoint, Inc. (NASDAQ:AVPT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $12.05, but opened at $12.56. AvePoint shares last traded at $12.4540, with a volume of 489,250 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVPT. DA Davidson reiterated a “buy” rating and issued a $18.00 price objective on shares of AvePoint in a research report on Monday. Weiss Ratings restated a “hold (c-)” rating on shares of AvePoint in a research report on Wednesday, June 24th. William Blair reaffirmed a “market perform” rating on shares of AvePoint in a research note on Monday, March 23rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price target on shares of AvePoint in a report on Wednesday, May 13th. Finally, Scotiabank reduced their price objective on shares of AvePoint from $13.00 to $12.00 and set a “sector outperform” rating for the company in a research note on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.44.

AvePoint Stock Down 0.2%

The firm’s fifty day simple moving average is $10.66 and its 200-day simple moving average is $11.04. The company has a market cap of $2.65 billion, a PE ratio of 59.43 and a beta of 1.16.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). AvePoint had a return on equity of 10.52% and a net margin of 10.55%.The business had revenue of $117.24 million for the quarter, compared to analysts’ expectations of $116.43 million. On average, analysts predict that AvePoint, Inc. will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On AvePoint

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake 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 valued at $28,000 after acquiring an additional 2,689 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in AvePoint in the 4th quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in AvePoint by 26.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after purchasing an additional 802 shares in the last quarter. Vestcor Inc acquired a new stake in shares of AvePoint during the 3rd quarter worth about $45,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of AvePoint during the 4th quarter worth about $47,000. 44.49% of the stock is owned by institutional investors and hedge funds.

About AvePoint

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.