AvePoint (NASDAQ:AVPT) Shares Gap Up – Should You Buy?

AvePoint, Inc. (NASDAQ:AVPT) gapped up prior to trading on Tuesday . The stock had previously closed at $12.05, but opened at $12.56. AvePoint shares last traded at $12.4540, with a volume of 489,250 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. DA Davidson reissued a “buy” rating and set a $18.00 price target on shares of AvePoint in a research report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of AvePoint in a report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of AvePoint in a research report on Wednesday, June 24th. William Blair reissued a “market perform” rating on shares of AvePoint in a report on Monday, March 23rd. Finally, Scotiabank decreased their price target on AvePoint from $13.00 to $12.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.44.

AvePoint Trading Up 6.2%

The firm has a market capitalization of $2.71 billion, a P/E ratio of 61.02 and a beta of 1.16. The firm has a 50-day moving average of $10.55 and a two-hundred day moving average of $11.06.

AvePoint (NASDAQ:AVPT) last released its earnings results on Thursday, May 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $117.24 million during the quarter, compared to the consensus estimate of $116.43 million. AvePoint had a net margin of 10.55% and a return on equity of 10.52%. On average, sell-side analysts anticipate that AvePoint, Inc. will post 0.21 EPS for the current fiscal year.

Institutional Trading of AvePoint

A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new position in shares of AvePoint during the fourth quarter worth $28,000. PNC Financial Services Group Inc. boosted its holdings in shares of AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock valued at $28,000 after acquiring an additional 2,689 shares in the last quarter. Vestcor Inc bought a new stake in AvePoint during the 3rd quarter worth $45,000. Kemnay Advisory Services Inc. bought a new stake in AvePoint during the 4th quarter worth $47,000. Finally, EverSource Wealth Advisors LLC increased its holdings in AvePoint by 6,111.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,342 shares of the company’s stock worth $103,000 after purchasing an additional 5,256 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

About AvePoint

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.