Phillip Securities Upgrades AvePoint (NASDAQ:AVPT) to "Moderate Buy"

Key Points

• Phillip Securities upgraded AvePoint to “Moderate Buy,” joining a generally positive analyst consensus. Eleven analysts rate the stock a Buy and six rate it Hold, with an average price target of $16.41; BMO Capital Markets set a $17 target and DA Davidson set an $18 target.
• AvePoint shares rose 4.2% to open at $14.66, near their 12-month high of $15.58. The company’s latest quarterly results exceeded expectations, with earnings of $0.12 per share versus $0.08 expected and revenue of $124.5 million versus $121.38 million expected.
• Insider selling and institutional ownership remain notable: an insider sold 60,000 shares for $852,000 under a pre-arranged trading plan, while institutional investors and hedge funds own 44.49% of the company.

AvePoint (NASDAQ:AVPT - Get Free Report) was upgraded by research analysts at Phillip Securities to a "moderate buy" rating in a research note issued on Monday, Zacks reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets assumed coverage on shares of AvePoint in a research note on Tuesday. They issued an "outperform" rating and a $17.00 price target on the stock. Wall Street Zen raised shares of AvePoint from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of AvePoint in a report on Tuesday, September 22nd. DA Davidson reissued a "buy" rating and issued a $18.00 target price on shares of AvePoint in a report on Monday, July 6th. Finally, Citigroup restated a "neutral" rating on shares of AvePoint in a research note on Wednesday, August 12th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, AvePoint presently has an average rating of "Moderate Buy" and an average target price of $16.41.

AvePoint Trading Up 4.2%

Shares of AVPT opened at $14.66 on Monday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 45.81 and a beta of 1.17. The firm's fifty day simple moving average is $13.36 and its 200-day simple moving average is $11.63. AvePoint has a twelve month low of $8.84 and a twelve month high of $15.58.

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

Insider Activity

In other news, insider Brian Brown sold 60,000 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the transaction, the insider directly owned 384,604 shares in the company, valued at $5,461,376.80. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,000 shares of company stock worth $1,387,496 in the last quarter. Insiders own 22.66% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in shares of AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company's stock worth $28,000 after purchasing an additional 2,689 shares during the period. GAMMA Investing LLC raised its holdings in shares of AvePoint by 26.6% in the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company's stock worth $43,000 after acquiring an additional 802 shares during the last quarter. Allworth Financial LP raised its stake in AvePoint by 109.6% in the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company's stock valued at $57,000 after purchasing an additional 2,649 shares during the last quarter. Versant Capital Management Inc raised its position in shares of AvePoint by 26.8% in the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company's stock valued at $90,000 after buying an additional 1,701 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of AvePoint during the 2nd quarter worth $96,000. Institutional investors and hedge funds 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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