AvePoint (NASDAQ:AVPT) Stock Rating Raised to Moderate Buy at Phillip Securities

Phillip Securities upgraded shares of AvePoint (NASDAQ:AVPT – Free Report) to a moderate buy rating in a research report released on Monday,Zacks reports.

AVPT has been the subject of several other reports. TD Cowen increased their price target on shares of AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Evercore reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of AvePoint in a report on Friday, August 7th. BMO Capital Markets assumed coverage on AvePoint in a research report on Tuesday. They set an “outperform” rating and a $17.00 target price on the stock. Stephens increased their target price on AvePoint from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Finally, Scotiabank raised their price target on AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.41.

Check Out Our Latest Report on AVPT

AvePoint Stock Performance

Shares of AVPT opened at $14.66 on Monday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 45.81 and a beta of 1.17. AvePoint has a 1 year low of $8.84 and a 1 year high of $15.58. The company’s fifty day moving average is $13.36 and its two-hundred day moving average is $11.63.

AvePoint (NASDAQ:AVPT – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. Sell-side analysts predict that AvePoint will post 0.25 EPS for the current year.

Insider Activity

In related news, insider Brian Brown sold 60,000 shares of the firm’s stock in a transaction dated 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 in the company, 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 Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 100,000 shares of company stock valued at $1,387,496. Company insiders own 22.66% of the company’s stock.

Institutional Trading of AvePoint

A number of institutional investors have recently added to or reduced their stakes in AVPT. Wellington Management Group LLP lifted its position in shares of AvePoint by 106.7% during the 2nd quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock valued at $31,125,000 after acquiring an additional 1,433,299 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of AvePoint by 25.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after acquiring an additional 666,422 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in AvePoint by 620.9% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock valued at $29,733,000 after purchasing an additional 1,843,641 shares in the last quarter. Renaissance Technologies LLC increased its stake in 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 in the last quarter. Finally, SG Americas Securities LLC increased its stake in AvePoint by 335.2% in the 1st quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock valued at $22,745,000 after purchasing an additional 1,842,124 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

About AvePoint

(Get Free Report)

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.

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Analyst Recommendations for AvePoint (NASDAQ:AVPT)

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