Stephens Boosts AvePoint (NASDAQ:AVPT) Price Target to $17.00

Key Points

• Stephens raised AvePoint’s price target from $16 to $17 while maintaining an “overweight” rating, implying 28.89% upside from the prior close.
• Analyst sentiment remains generally positive: AvePoint has a consensus “Moderate Buy” rating from 16 analysts and an average price target of $16.36.
• AvePoint exceeded quarterly expectations, reporting $0.12 in EPS versus $0.08 expected and revenue of $124.5 million versus $121.38 million forecast; insiders sold 80,000 shares during the last quarter.

AvePoint (NASDAQ:AVPT - Get Free Report) had its target price lifted by Stephens from $16.00 to $17.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Stephens' price target indicates a potential upside of 28.89% from the company's previous close.

Several other research analysts have also recently weighed in on the company. Zacks Research cut AvePoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Evercore reissued an "outperform" rating and issued a $16.00 price target on shares of AvePoint in a report on Friday, August 7th. TD Cowen raised their price objective on shares of AvePoint from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, Scotiabank lifted their price objective on shares of AvePoint from $12.00 to $15.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 7th. Ten investment 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $16.36.

AvePoint Price Performance

AVPT opened at $13.19 on Monday. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 41.22 and a beta of 1.19. AvePoint has a 1-year low of $8.84 and a 1-year high of $15.93. The business has a 50 day moving average price of $13.17 and a two-hundred day moving average price of $11.41.

AvePoint (NASDAQ:AVPT - Get Free Report) last issued 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 firm had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.38 million. Equities analysts expect that AvePoint will post 0.25 EPS 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 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 sale, the insider directly owned 384,604 shares of the company's stock, 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 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. Insiders sold 80,000 shares of company stock worth $1,115,696 over the last quarter. 22.66% of the stock is owned by insiders.

Hedge Funds Weigh In On AvePoint

Institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in AvePoint by 620.9% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company's stock worth $29,733,000 after purchasing an additional 1,843,641 shares in the last quarter. SG Americas Securities LLC grew its holdings 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 valued at $22,745,000 after buying an additional 1,842,124 shares in the last quarter. Wellington Management Group LLP raised its position in AvePoint by 106.7% during the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company's stock valued at $31,125,000 after buying an additional 1,433,299 shares during the period. Bank of America Corp DE raised its position in 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 buying an additional 815,074 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in AvePoint in the 2nd quarter worth about $8,848,000. Hedge funds and other 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.

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