AvePoint (NASDAQ:AVPT) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded AvePoint from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with 11 Buy ratings, six Holds, and a $16.41 average price target.
• AvePoint shares opened at $14.63, near their 52-week high of $15.48, while the company’s latest quarterly results exceeded expectations: EPS was $0.12 versus $0.08 forecast, and revenue reached $124.5 million.
• Insiders have sold 128,894 shares worth approximately $1.83 million over the past 90 days, while institutional investors own 44.49% of the company.

AvePoint (NASDAQ:AVPT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Several other analysts have also issued reports on AVPT. Phillip Securities upgraded shares of AvePoint to a "moderate buy" rating in a research report on Monday, October 5th. Weiss Ratings upgraded shares of AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. BMO Capital Markets began coverage on shares of AvePoint in a research note on Tuesday. They set an "outperform" rating and a $17.00 price target on the stock. TD Cowen lifted their price target on shares of AvePoint from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Zacks Research downgraded shares of AvePoint from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. 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, AvePoint currently has an average rating of "Moderate Buy" and a consensus price target of $16.41.

AvePoint Stock Performance

AVPT stock opened at $14.63 on Friday. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 45.72 and a beta of 1.17. The business's 50-day moving average is $13.49 and its two-hundred day moving average is $11.73. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $15.48.

AvePoint (NASDAQ:AVPT - Get Free Report) last released its quarterly earnings results 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 return on equity of 15.97% and a net margin of 15.33%. The business had revenue of $124.50 million during the quarter, compared to the consensus estimate of $121.38 million. Equities analysts predict that AvePoint will post 0.25 earnings per share for the current year.

Insider Activity

In related news, insider Brian Brown sold 60,000 shares of the 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 directly owned 384,604 shares of the company's stock, valued at approximately $5,461,376.80. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 128,894 shares of company stock worth $1,825,241. Insiders own 22.66% of the company's stock.

Hedge Funds Weigh In On AvePoint

Several large investors have recently added to or reduced their stakes in AVPT. Ausbil Investment Management Ltd purchased a new stake in shares of AvePoint in the third quarter worth $358,000. Scholtz & Company LLC purchased a new position in shares of AvePoint during the 2nd quarter valued at $1,975,000. Integrated Wealth Concepts LLC bought a new position in AvePoint in the 2nd quarter worth $96,000. Allworth Financial LP boosted its holdings in AvePoint by 109.6% in the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company's stock worth $57,000 after buying an additional 2,649 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in AvePoint in the 2nd quarter worth $240,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.