AvePoint (NASDAQ:AVPT) Sets New 1-Year High - Still a Buy?

Key Points

• AvePoint shares reached a new 52-week high of $16.81, giving the company a market capitalization of approximately $3.53 billion.
• Analyst sentiment is favorable, with 10 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $16.58. Jefferies recently raised its target to $20 and maintained a Buy rating.
• AvePoint exceeded quarterly expectations, reporting $0.12 in earnings per share versus an $0.08 estimate and revenue of $124.5 million versus a $121.38 million consensus. However, insiders have sold 205,000 shares worth nearly $3.0 million over the past 90 days.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report)'s stock price reached a new 52-week high on Monday. The company traded as high as $16.81 and last traded at $16.8120, with a volume of 144,495 shares traded. The stock had previously closed at $16.51.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVPT shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of AvePoint in a research report on Tuesday, September 22nd. Citigroup reaffirmed a "neutral" rating on shares of AvePoint in a report on Wednesday, August 12th. Jefferies Financial Group boosted their price target on shares of AvePoint from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Sunday. Scotiabank upped their price target on shares of AvePoint from $12.00 to $15.00 and gave the company a "sector outperform" rating in a research report on Friday, August 7th. Finally, TD Cowen raised their price objective on AvePoint from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, AvePoint has an average rating of "Moderate Buy" and a consensus target price of $16.58.

AvePoint Price Performance

The stock has a market cap of $3.53 billion, a PE ratio of 52.14 and a beta of 1.17. The business has a 50 day moving average price of $13.85 and a two-hundred day moving average price of $12.12.

AvePoint (NASDAQ:AVPT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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, sell-side analysts forecast that AvePoint, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Brian Brown sold 72,606 shares of the company's stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $15.26, for a total transaction of $1,107,967.56. Following the completion of the transaction, the insider owned 259,604 shares in the company, valued at $3,961,557.04. This represents a 21.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 205,000 shares of company stock worth $2,986,408 over the last 90 days. 22.66% of the stock is currently owned by insiders.

Institutional Trading of AvePoint

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its position in AvePoint by 21.2% during the 3rd quarter. Signaturefd LLC now owns 5,739 shares of the company's stock valued at $81,000 after purchasing an additional 1,005 shares during the period. Sterling Capital Management LLC raised its position in shares of AvePoint by 822.1% in the 3rd quarter. Sterling Capital Management LLC now owns 5,496 shares of the company's stock worth $77,000 after acquiring an additional 4,900 shares in the last quarter. Isthmus Partners LLC bought a new position in AvePoint in the third quarter worth $2,518,000. Nisa Investment Advisors LLC raised its holdings in AvePoint by 42.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,983 shares of the company's stock worth $84,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Ausbil Investment Management Ltd bought a new position in AvePoint in the third quarter worth $358,000. Institutional investors own 44.49% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.