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

Key Points

• Wall Street Zen upgraded AvePoint to “buy” from “hold.” The stock has a consensus “Moderate Buy” rating, with 10 analysts recommending Buy and five recommending Hold; the average price target is $16.55.
• AvePoint shares opened at $17.09, near their 52-week high of $17.52, with a $3.62 billion market capitalization. The company’s latest quarterly results exceeded expectations, reporting $0.12 in EPS versus $0.08 expected and revenue of $124.5 million.
• Insiders have sold shares recently, including a 72,606-share sale by Brian Brown worth approximately $1.1 million; insiders own 22.66% of the company, while institutional investors own 44.49%.

AvePoint (NASDAQ:AVPT - Get Free Report) 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 have also recently commented on AVPT. Jefferies Financial Group upped their price target on shares of AvePoint from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Sunday, October 25th. TD Cowen lifted their price objective on shares of AvePoint from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Evercore reiterated an "outperform" rating and issued a $16.00 price objective on shares of AvePoint in a research note on Friday, August 7th. Scotiabank boosted their target price on shares of AvePoint from $12.00 to $15.00 and gave the company a "sector outperform" rating in a report on Friday, August 7th. Finally, Citigroup restated a "neutral" rating on shares of AvePoint in a research report on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.55.

AvePoint Stock Performance

Shares of AVPT opened at $17.09 on Friday. The business has a 50-day moving average of $14.22 and a 200 day moving average of $11.91. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $17.52. The firm has a market cap of $3.62 billion, a P/E ratio of 53.41 and a beta of 1.17.

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

Insider Activity at AvePoint

In other news, insider Brian Brown sold 72,606 shares of the business's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $15.26, for a total transaction of $1,107,967.56. Following the completion of the transaction, the insider directly owned 259,604 shares in the company, valued at $3,961,557.04. The trade was a 21.86% decrease in their position. The transaction 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 230,000 shares of company stock worth $3,430,412. 22.66% of the stock is owned by insiders.

Institutional Investors Weigh In On AvePoint

Several large investors have recently added to or reduced their stakes in the business. Vise Technologies Inc. bought a new stake in AvePoint during the third quarter valued at approximately $285,000. D.A. Davidson & CO. increased its holdings in shares of AvePoint by 3.4% in the 3rd quarter. D.A. Davidson & CO. now owns 60,710 shares of the company's stock worth $855,000 after buying an additional 2,015 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of AvePoint by 44,650.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 11,635 shares of the company's stock worth $164,000 after buying an additional 11,609 shares during the last quarter. Smith Group Asset Management LLC increased its holdings in shares of AvePoint by 1.6% in the 3rd quarter. Smith Group Asset Management LLC now owns 63,622 shares of the company's stock worth $896,000 after buying an additional 984 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of AvePoint by 21.2% during 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 in the last quarter. Institutional investors own 44.49% of the company's stock.

About AvePoint

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.

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