AvePoint (NASDAQ:AVPT) Stock Rating Upgraded by Wall Street Zen

AvePoint (NASDAQ:AVPT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts also recently commented on the company. TD Cowen boosted their price objective on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group boosted their price objective on AvePoint from $16.00 to $20.00 and gave the company a “buy” rating in a report on Sunday, October 25th. Citigroup restated a “neutral” rating on shares of AvePoint in a research report on Wednesday, August 12th. Scotiabank boosted their target price on shares of AvePoint from $12.00 to $15.00 and gave the stock a “sector outperform” rating in a report on Friday, August 7th. Finally, BMO Capital Markets initiated coverage on shares of AvePoint in a report on Tuesday, October 6th. They set an “outperform” rating and a $17.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.55.

AvePoint Price Performance

AVPT opened at $17.09 on Friday. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $17.52. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 53.41 and a beta of 1.13. The company’s 50 day moving average price is $14.22 and its two-hundred day moving average price is $11.91.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share (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 business had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.38 million. As a group, equities research analysts predict that AvePoint will post 0.25 EPS for the current year.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Brown sold 35,000 shares of AvePoint stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $16.42, for a total transaction of $574,700.00. Following the completion of the sale, the insider directly owned 224,604 shares of the company’s stock, valued at $3,687,997.68. The trade was a 13.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 230,000 shares of company stock worth $3,430,412. 22.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On AvePoint

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of AvePoint by 933.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock valued at $28,000 after purchasing an additional 2,689 shares in the last quarter. GAMMA Investing LLC raised its stake in AvePoint by 26.6% in the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock worth $43,000 after buying an additional 802 shares in the last quarter. Allworth Financial LP raised its stake in AvePoint by 109.6% during the 2nd 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. Sterling Capital Management LLC boosted its stake in shares of AvePoint by 822.1% during the third quarter. Sterling Capital Management LLC now owns 5,496 shares of the company’s stock valued at $77,000 after purchasing an additional 4,900 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of AvePoint by 21.2% in the 3rd quarter. Signaturefd LLC now owns 5,739 shares of the company’s stock valued at $81,000 after buying an additional 1,005 shares during the period. 44.49% of the stock is currently owned by institutional investors.

AvePoint Company Profile

AvePoint, Inc (NASDAQ:AVPT) is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.