AvePoint (NASDAQ:AVPT) Stock Lifted to "Strong-Buy" by BMO Capital Markets

Key Points

• BMO Capital Markets upgraded AvePoint to “strong buy.” The broader analyst consensus is “Moderate Buy,” with an average price target of $16.41.
• AvePoint reported quarterly EPS of $0.12, beating estimates of $0.08, while revenue of $124.5 million also exceeded expectations of $121.38 million.
• AVPT opened at $14.59, near its 52-week high of $15.48. Institutional investors own 44.49% of the company, while insiders have sold 100,000 shares worth approximately $1.39 million over the past 90 days.

AvePoint (NASDAQ:AVPT - Get Free Report) was upgraded by research analysts at BMO Capital Markets to a "strong-buy" rating in a research report issued on Tuesday, Zacks reports.

Several other analysts have also recently issued reports on AVPT. Zacks Research cut shares of AvePoint from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Scotiabank increased 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. Weiss Ratings upgraded AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. TD Cowen raised their price target on AvePoint from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, DA Davidson reaffirmed a "buy" rating and set a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.41.

AvePoint Stock Performance

AVPT stock opened at $14.59 on Tuesday. The firm has a fifty day moving average price of $13.40 and a 200 day moving average price of $11.66. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $15.48. The firm has a market cap of $3.09 billion, a PE ratio of 45.60 and a beta of 1.17.

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 net margin of 15.33% and a return on equity of 15.97%. The company had revenue of $124.50 million for the quarter, compared to the consensus estimate of $121.38 million. On average, equities analysts predict that AvePoint will post 0.25 EPS for the current 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 transaction, the insider owned 384,604 shares of the company's stock, valued at approximately $5,461,376.80. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 100,000 shares of company stock worth $1,387,496 in the last ninety days. 22.66% of the stock is owned by insiders.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently bought and sold shares of AVPT. Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 buying an additional 1,843,641 shares during the period. SG Americas Securities LLC increased its position in shares of AvePoint by 335.2% during the first quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company's stock worth $22,745,000 after acquiring an additional 1,842,124 shares during the period. Wellington Management Group LLP increased its position in shares of AvePoint by 106.7% during the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company's stock worth $31,125,000 after acquiring an additional 1,433,299 shares during the period. Bank of America Corp DE raised its stake in shares of AvePoint by 185.8% during the first quarter. Bank of America Corp DE now owns 1,253,662 shares of the company's stock valued at $11,922,000 after acquiring an additional 815,074 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of AvePoint during the second quarter valued at approximately $8,848,000. 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.

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