Scotiabank Forecasts Strong Price Appreciation for AvePoint (NASDAQ:AVPT) Stock

AvePoint (NASDAQ:AVPT) had its price target boosted by research analysts at Scotiabank from $12.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 17.28% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AvePoint in a research report on Wednesday, June 24th. Evercore reaffirmed an “outperform” rating and set a $16.00 target price on shares of AvePoint in a research report on Friday. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price target on shares of AvePoint in a report on Monday, July 6th. Zacks Research raised AvePoint from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price target on shares of AvePoint in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.44.

AvePoint Stock Performance

Shares of NASDAQ:AVPT opened at $12.79 on Friday. The firm’s 50 day simple moving average is $11.81 and its 200-day simple moving average is $10.93. The firm has a market cap of $2.71 billion, a PE ratio of 39.97 and a beta of 1.16. AvePoint has a one year low of $8.84 and a one year high of $16.77.

AvePoint (NASDAQ:AVPT) last issued its earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. The business had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. Equities research analysts predict that AvePoint will post 0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Brian Michael Brown sold 5,176 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $13.06, for a total value of $67,598.56. Following the completion of the sale, the insider owned 809,664 shares of the company’s stock, valued at approximately $10,574,211.84. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.66% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of AvePoint by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,404,543 shares of the company’s stock valued at $241,749,000 after purchasing an additional 195,404 shares in the last quarter. Parsifal Capital Management LP increased its position in shares of AvePoint by 61.2% during the third quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock worth $127,926,000 after purchasing an additional 3,235,384 shares in the last quarter. Morgan Stanley increased its position in AvePoint by 372.6% during the fourth quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock worth $109,332,000 after buying an additional 6,205,829 shares during the period. Jennison Associates LLC lifted its stake in AvePoint by 11.1% in the fourth quarter. Jennison Associates LLC now owns 4,173,280 shares of the company’s stock valued at $57,967,000 after buying an additional 417,625 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of AvePoint by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 3,643,473 shares of the company’s stock valued at $50,614,000 after acquiring an additional 234,080 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.