Analysts Set AvePoint, Inc. (NASDAQ:AVPT) Price Target at $19.03

Shares of AvePoint, Inc. (NASDAQ:AVPT) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $19.03.

Several equities analysts have weighed in on AVPT shares. DA Davidson started coverage on AvePoint in a report on Monday, September 22nd. They set a “buy” rating and a $20.00 price target for the company. Robert W. Baird started coverage on shares of AvePoint in a report on Monday, October 27th. They issued a “neutral” rating and a $17.00 target price for the company. Citigroup decreased their price target on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, August 18th. Wall Street Zen upgraded shares of AvePoint from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Cantor Fitzgerald reduced their target price on shares of AvePoint from $22.50 to $18.00 and set an “overweight” rating on the stock in a report on Friday, November 7th.

Insiders Place Their Bets

In other AvePoint news, Director John Chi On Ho sold 650,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the sale, the director directly owned 3,732,679 shares in the company, valued at $56,774,047.59. This represents a 14.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian Michael Brown sold 1,848 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $15.03, for a total value of $27,775.44. Following the completion of the sale, the insider directly owned 631,893 shares of the company’s stock, valued at $9,497,351.79. The trade was a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,720,780 shares of company stock valued at $86,945,866 over the last ninety days. 26.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVPT. Quantbot Technologies LP grew its position in AvePoint by 6,801.0% in the 2nd quarter. Quantbot Technologies LP now owns 307,026 shares of the company’s stock valued at $5,929,000 after acquiring an additional 302,577 shares during the last quarter. EFG Asset Management North America Corp. lifted its position in shares of AvePoint by 136.1% during the second quarter. EFG Asset Management North America Corp. now owns 163,066 shares of the company’s stock worth $3,150,000 after purchasing an additional 93,994 shares during the last quarter. Next Century Growth Investors LLC boosted its stake in shares of AvePoint by 53.0% during the second quarter. Next Century Growth Investors LLC now owns 1,019,773 shares of the company’s stock valued at $19,692,000 after purchasing an additional 353,089 shares during the period. Okabena Investment Services Inc. bought a new position in shares of AvePoint in the second quarter worth about $780,000. Finally, Jennison Associates LLC increased its stake in AvePoint by 37.0% in the 2nd quarter. Jennison Associates LLC now owns 2,908,473 shares of the company’s stock worth $56,163,000 after buying an additional 786,016 shares during the period. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Trading Down 0.9%

Shares of NASDAQ AVPT opened at $13.89 on Friday. AvePoint has a 52-week low of $11.49 and a 52-week high of $20.25. The firm’s fifty day moving average is $13.74 and its two-hundred day moving average is $16.03.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). AvePoint had a net margin of 0.55% and a return on equity of 0.66%. The firm had revenue of $109.73 million for the quarter, compared to analysts’ expectations of $105.72 million. On average, research analysts forecast that AvePoint will post -0.03 earnings per share for the current year.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.