AvePoint (NASDAQ:AVPT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of AvePoint (NASDAQ:AVPT) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages have also issued reports on AVPT. DA Davidson reissued a “buy” rating and issued a $18.00 target price on shares of AvePoint in a research report on Monday, July 6th. Evercore restated an “outperform” rating and set a $16.00 price target on shares of AvePoint in a research report on Friday, August 7th. Citigroup reaffirmed a “neutral” rating on shares of AvePoint in a research note on Wednesday, August 12th. TD Cowen increased their price objective on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Zacks Research lowered AvePoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.44.

AvePoint Price Performance

Shares of NASDAQ AVPT opened at $12.66 on Friday. AvePoint has a 1 year low of $8.84 and a 1 year high of $16.09. The stock has a market capitalization of $2.68 billion, a P/E ratio of 39.56 and a beta of 1.19. The company’s 50-day moving average is $13.07 and its 200 day moving average is $11.29.

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

Insider Activity

In other news, insider Brian Brown sold 60,000 shares of AvePoint stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the transaction, the insider directly owned 384,604 shares in the company, valued at approximately $5,461,376.80. This trade 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 accessible through 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 in the last ninety days. 22.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVPT. Kestra Advisory Services LLC bought a new stake in AvePoint in the fourth quarter worth $28,000. PNC Financial Services Group Inc. increased its holdings 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 in the last quarter. Vestcor Inc purchased a new position in shares of AvePoint in the 3rd quarter worth about $45,000. Kemnay Advisory Services Inc. purchased a new position in shares of AvePoint in the 4th quarter worth about $47,000. Finally, GAMMA Investing LLC raised its position in shares of AvePoint by 26.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock worth $43,000 after purchasing an additional 802 shares during the last quarter. Institutional investors own 44.49% of the company’s stock.

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.