AvePoint (NASDAQ:AVPT) Price Target Cut to $15.00 by Analysts at Citigroup

AvePoint (NASDAQ:AVPT) had its price target decreased by Citigroup from $16.00 to $15.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 12.49% from the company’s previous close.

AVPT has been the subject of several other reports. Morgan Stanley set a $18.30 target price on AvePoint in a research report on Monday, October 20th. Evercore ISI reduced their target price on shares of AvePoint from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Scotiabank dropped their price objective on shares of AvePoint from $22.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 7th. Baird R W upgraded shares of AvePoint to a “hold” rating in a research report on Monday, October 27th. Finally, Wall Street Zen raised AvePoint from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.66.

AvePoint Trading Down 2.2%

Shares of NASDAQ AVPT traded down $0.30 during trading on Tuesday, reaching $13.34. 458,251 shares of the stock were exchanged, compared to its average volume of 2,029,780. AvePoint has a twelve month low of $11.49 and a twelve month high of $20.25. The business’s 50-day moving average price is $13.38 and its 200 day moving average price is $15.27.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data 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 0.66% and a net margin of 0.55%.The business had revenue of $109.73 million during the quarter, compared to analysts’ expectations of $105.72 million. Equities research analysts predict that AvePoint will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Xunkai Gong sold 18,321 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $13.80, for a total transaction of $252,829.80. Following the transaction, the chairman owned 15,040,668 shares of the company’s stock, valued at approximately $207,561,218.40. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian Michael Brown sold 1,848 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.03, for a total value of $27,775.44. Following the completion of the transaction, the insider directly owned 631,893 shares of the company’s stock, valued at approximately $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 sold 61,848 shares of company stock valued at $862,444 in the last 90 days. Corporate insiders own 26.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVPT. Global Retirement Partners LLC bought a new position in AvePoint in the third quarter valued at about $26,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of AvePoint by 698.8% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,069 shares of the company’s stock worth $31,000 after buying an additional 1,810 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of AvePoint by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock worth $44,000 after purchasing an additional 919 shares in the last quarter. Vestcor Inc bought a new position in shares of AvePoint in the third quarter valued at $45,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of AvePoint in the second quarter worth approximately $103,000. 44.49% of the stock is currently owned by institutional investors.

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.