AvePoint (NASDAQ:AVPT) Price Target Lowered to $17.00 at Scotiabank

AvePoint (NASDAQ:AVPT) had its target price lowered by Scotiabank from $22.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

AVPT has been the subject of a number of other reports. B. Riley initiated coverage on AvePoint in a report on Tuesday, August 26th. They set a “buy” rating and a $25.00 price objective for the company. Morgan Stanley set a $18.30 price target on AvePoint in a research note on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of AvePoint in a report on Wednesday, October 8th. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a report on Monday, October 6th. Finally, Baird R W raised shares of AvePoint to a “hold” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AvePoint has a consensus rating of “Moderate Buy” and an average price target of $19.03.

AvePoint Trading Down 12.7%

AVPT traded down $1.76 during midday trading on Friday, hitting $12.08. The company’s stock had a trading volume of 4,239,234 shares, compared to its average volume of 1,091,812. AvePoint has a 52-week low of $11.49 and a 52-week high of $20.25. The firm has a 50-day moving average price of $15.05 and a two-hundred day moving average price of $16.85. The firm has a market cap of $2.56 billion, a P/E ratio of -241.60 and a beta of 1.40.

AvePoint (NASDAQ:AVPT) last released its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). AvePoint had a return on equity of 0.71% and a net margin of 0.55%.The company had revenue of $109.73 million during the quarter, compared to analyst estimates of $105.72 million. AvePoint has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts expect that AvePoint will post -0.03 EPS for the current year.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 1,848 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $15.03, for a total value of $27,775.44. Following the sale, the insider owned 631,893 shares in the company, valued at approximately $9,497,351.79. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Chi On Ho sold 650,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $9,886,500.00. Following the transaction, the director directly owned 3,732,679 shares in the company, valued at approximately $56,774,047.59. This represents a 14.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 5,755,780 shares of company stock worth $87,487,316. Insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in AvePoint by 4.3% during the third quarter. Vanguard Group Inc. now owns 17,209,139 shares of the company’s stock valued at $258,309,000 after purchasing an additional 704,825 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of AvePoint by 5.3% in the 1st quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company’s stock valued at $97,769,000 after buying an additional 340,509 shares during the period. Invesco Ltd. grew its position in shares of AvePoint by 218.0% during the 2nd quarter. Invesco Ltd. now owns 5,335,882 shares of the company’s stock valued at $103,036,000 after buying an additional 3,657,692 shares during the last quarter. Parsifal Capital Management LP raised its stake in AvePoint by 130.3% during the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock worth $73,366,000 after acquiring an additional 2,874,842 shares during the period. Finally, Geode Capital Management LLC raised its stake in AvePoint by 6.1% during the second quarter. Geode Capital Management LLC now owns 3,122,598 shares of the company’s stock worth $60,304,000 after acquiring an additional 179,694 shares during the period. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.