AvePoint (NASDAQ:AVPT) Price Target Raised to $17.00

AvePoint (NASDAQ:AVPTFree Report) had its target price boosted by Stephens from $16.00 to $17.00 in a research note issued to investors on Monday morning, Marketbeat reports. Stephens currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on AVPT. Wall Street Zen upgraded AvePoint from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. DA Davidson reiterated a “buy” rating and issued a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. Citigroup restated a “neutral” rating on shares of AvePoint in a research 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, TD Cowen upped their price target on shares of AvePoint from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.36.

Read Our Latest Stock Analysis on AvePoint

AvePoint Price Performance

Shares of AVPT opened at $13.12 on Monday. AvePoint has a 1-year low of $8.84 and a 1-year high of $15.65. The stock has a market cap of $2.78 billion, a PE ratio of 41.00 and a beta of 1.19. The firm has a fifty day moving average price of $13.19 and a 200 day moving average price of $11.45.

AvePoint (NASDAQ:AVPTGet Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. AvePoint had a return on equity of 15.97% and a net margin of 15.33%.The company had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. As a group, equities analysts expect that AvePoint will post 0.25 EPS for the current fiscal year.

Insider Activity

In other news, insider Brian Brown sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $14.20, for a total transaction 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 represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,000 shares of company stock valued at $1,115,696 over the last quarter. Insiders own 22.66% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in shares of AvePoint by 307.0% in the first quarter. Quantinno Capital Management LP now owns 109,317 shares of the company’s stock valued at $1,040,000 after acquiring an additional 82,457 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in AvePoint in the 2nd quarter valued at approximately $8,848,000. Y Intercept Hong Kong Ltd raised its stake in shares of 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 buying an additional 105,471 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 buying an additional 363,200 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of AvePoint by 106.7% in the 2nd quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock valued at $31,125,000 after buying an additional 1,433,299 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

(Get Free Report)

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.

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