Brokerages Set AvePoint, Inc. (NASDAQ:AVPT) Price Target at $16.44

AvePoint, Inc. (NASDAQ:AVPT) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.4417.

A number of equities research analysts have issued reports on AVPT shares. Scotiabank upped their price target on shares of AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Zacks Research downgraded shares of AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Citigroup reaffirmed a “neutral” rating on shares of AvePoint in a report on Wednesday, August 12th. Weiss Ratings raised shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Evercore restated an “outperform” rating and set a $16.00 price target on shares of AvePoint in a research report on Friday, August 7th.

AvePoint Stock Up 0.7%

Shares of AvePoint stock opened at $13.52 on Friday. AvePoint has a 12-month low of $8.84 and a 12-month high of $16.03. The stock has a 50 day moving average price of $13.16 and a two-hundred day moving average price of $11.39. The stock has a market capitalization of $2.86 billion, a P/E ratio of 42.25 and a beta of 1.19.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.12 EPS 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 company had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. Sell-side analysts anticipate that AvePoint will post 0.25 earnings per share for the current year.

Insider Activity at AvePoint

In related news, insider Brian Brown sold 60,000 shares of the firm’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 value of $852,000.00. Following the completion of the sale, the insider owned 384,604 shares of the company’s stock, valued at $5,461,376.80. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 80,000 shares of company stock worth $1,115,696 over the last quarter. 22.66% of the stock is owned by corporate insiders.

Institutional Trading of AvePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVPT. Quantinno Capital Management LP grew its stake in shares of AvePoint by 307.0% during the first quarter. Quantinno Capital Management LP now owns 109,317 shares of the company’s stock worth $1,040,000 after purchasing an additional 82,457 shares during the period. Y Intercept Hong Kong Ltd increased its stake in AvePoint by 83.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 232,250 shares of the company’s stock worth $2,209,000 after purchasing an additional 105,471 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of AvePoint during the second quarter worth $8,848,000. Renaissance Technologies LLC raised its stake in shares of AvePoint by 16.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock valued at $24,537,000 after purchasing an additional 363,200 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in AvePoint by 25.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock valued at $31,040,000 after buying an additional 666,422 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors and hedge funds.

About AvePoint

AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.

The company’s product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.