AvePoint (NASDAQ:AVPT) Reaches New 12-Month High - Should You Buy?

Key Points

• AvePoint shares reached a new 52-week high of $15.45, up from a previous close of $14.74, giving the company a market capitalization of approximately $3.24 billion.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $16.25 price target; the latest quarter also beat expectations, with EPS of $0.12 versus $0.08 forecast and revenue of $124.5 million.
• Insiders have recently sold shares, including a 28,894-share sale by an executive, while institutional ownership stands at 44.49% and several funds have initiated or increased positions.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) shares reached a new 52-week high on Tuesday. The company traded as high as $15.45 and last traded at $15.4350, with a volume of 914,365 shares. The stock had previously closed at $14.74.

Analyst Upgrades and Downgrades

AVPT has been the topic of several analyst reports. Phillip Securities upgraded shares of AvePoint to a "moderate buy" rating in a report on Monday, October 5th. Wall Street Zen lowered shares of AvePoint from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. DA Davidson reaffirmed a "buy" rating and set a $18.00 target price on shares of AvePoint in a report on Monday, July 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of AvePoint in a research report on Tuesday, September 22nd. Finally, Citigroup reissued a "neutral" rating on shares of AvePoint in a research note on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.25.

AvePoint Stock Performance

The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 47.92 and a beta of 1.17. The company has a 50-day moving average price of $13.65 and a 200-day moving average price of $11.95.

AvePoint (NASDAQ:AVPT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.12 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 company had revenue of $124.50 million during the quarter, compared to analysts' expectations of $121.38 million. As a group, sell-side analysts anticipate that AvePoint, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AvePoint news, insider Brian Brown sold 28,894 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $15.15, for a total value of $437,744.10. Following the sale, the insider directly owned 335,710 shares in the company, valued at approximately $5,086,006.50. This trade represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 128,894 shares of company stock valued at $1,825,241 over the last ninety days. 22.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AvePoint

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ausbil Investment Management Ltd bought a new position in shares of AvePoint during the 3rd quarter valued at about $358,000. Scholtz & Company LLC bought a new stake in AvePoint during the 2nd quarter worth approximately $1,975,000. Integrated Wealth Concepts LLC bought a new stake in AvePoint during the 2nd quarter worth approximately $96,000. Allworth Financial LP increased its stake in AvePoint by 109.6% during the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company's stock worth $57,000 after purchasing an additional 2,649 shares in the last quarter. Finally, Corient Private Wealth LP acquired a new stake in AvePoint during the 2nd quarter worth approximately $240,000. 44.49% of the stock is owned by institutional investors.

AvePoint Company Profile

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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