AvePoint, Inc. (NASDAQ:AVPT) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• AvePoint has a “Moderate Buy” consensus rating from 16 analysts, with 10 buys and 6 holds. The average 12-month price target is approximately $16.44, above the reported $12.66 share price.
• The company exceeded quarterly expectations, reporting $0.12 earnings per share versus the $0.08 consensus estimate and revenue of $124.5 million versus $121.38 million expected.
• Insiders sold 80,000 shares worth about $1.12 million over the past quarter, while institutional ownership stands at 44.49%; California State Teachers Retirement System significantly increased its stake during the second quarter.

Shares of AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen research firms that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.4417.

Several research firms have recently weighed in on AVPT. Wall Street Zen raised shares of AvePoint from a "hold" rating to a "buy" rating in a report on Saturday. Zacks Research lowered shares of AvePoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Evercore restated an "outperform" rating and issued a $16.00 price target on shares of AvePoint in a research note on Friday, August 7th. DA Davidson reiterated a "buy" rating and set a $18.00 price objective on shares of AvePoint in a research report on Monday, July 6th. Finally, Weiss Ratings raised AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th.

AvePoint Price Performance

AvePoint stock opened at $12.66 on Friday. AvePoint has a one year low of $8.84 and a one year high of $16.09. The business's fifty day moving average is $13.07 and its 200 day moving average is $11.29. The stock has a market capitalization of $2.68 billion, a PE ratio of 39.56 and a beta of 1.19.

AvePoint (NASDAQ:AVPT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.04. The business had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. As a group, sell-side analysts expect that AvePoint will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian Brown sold 60,000 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the sale, the insider directly owned 384,604 shares in the company, valued at approximately $5,461,376.80. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 80,000 shares of company stock valued at $1,115,696 over the last quarter. Company insiders own 22.66% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Scholtz & Company LLC purchased a new stake in shares of AvePoint in the 2nd quarter worth $1,975,000. Integrated Wealth Concepts LLC bought a new stake in AvePoint during the second quarter valued at about $96,000. Allworth Financial LP increased its position in AvePoint by 109.6% in the second quarter. Allworth Financial LP now owns 5,065 shares of the company's stock worth $57,000 after buying an additional 2,649 shares in the last quarter. Corient Private Wealth LP bought a new position in shares of AvePoint in the second quarter worth about $240,000. Finally, California State Teachers Retirement System raised its stake in shares of AvePoint by 994.0% in the second quarter. California State Teachers Retirement System now owns 2,032,037 shares of the company's stock worth $22,779,000 after buying an additional 1,846,288 shares during the period. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Company Profile

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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