AvePoint (NASDAQ:AVPT) Stock Price Target Raised at TD Cowen

AvePoint (NASDAQ:AVPT) had its target price hoisted by stock analysts at TD Cowen from $15.00 to $18.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen‘s target price would indicate a potential upside of 9.39% from the company’s current price.

Other analysts have also issued reports about the stock. Phillip Securities raised shares of AvePoint to a “moderate buy” rating in a research report on Monday, October 5th. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price objective on shares of AvePoint in a research report on Monday, July 6th. Zacks Research lowered shares of AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Evercore reissued an “outperform” rating and set a $16.00 target price on shares of AvePoint in a research report on Friday, August 7th. Finally, BMO Capital Markets began coverage on shares of AvePoint in a report on Tuesday, October 6th. They issued an “outperform” rating and a $17.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.82.

AvePoint Trading Down 1.5%

Shares of NASDAQ:AVPT traded down $0.26 on Tuesday, reaching $16.45. The company had a trading volume of 396,889 shares, compared to its average volume of 2,237,400. The firm has a market capitalization of $3.48 billion, a PE ratio of 51.45 and a beta of 1.17. AvePoint has a 52-week low of $8.84 and a 52-week high of $17.52. The firm’s 50 day simple moving average is $14.29 and its 200-day simple moving average is $11.93.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. The firm had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. As a group, equities research analysts predict that AvePoint will post 0.25 earnings per share for the current year.

Insider Activity

In related news, insider Brian Brown sold 72,606 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $15.26, for a total value of $1,107,967.56. Following the completion of the transaction, the insider directly owned 259,604 shares of the company’s stock, valued at $3,961,557.04. This trade represents a 21.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 230,000 shares of company stock worth $3,430,412 in the last 90 days. Corporate insiders own 22.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVPT. Wellington Management Group LLP lifted its stake in shares of AvePoint by 106.7% during the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock worth $31,125,000 after buying an additional 1,433,299 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AvePoint by 25.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock valued at $31,040,000 after acquiring an additional 666,422 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of AvePoint by 25.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,675,587 shares of the company’s stock valued at $25,445,000 after acquiring an additional 535,015 shares during the period. Renaissance Technologies LLC raised its stake in AvePoint by 16.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock worth $24,537,000 after acquiring an additional 363,200 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in AvePoint by 185.8% in the 1st quarter. Bank of America Corp DE now owns 1,253,662 shares of the company’s stock worth $11,922,000 after acquiring an additional 815,074 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

AvePoint Company Profile

AvePoint, Inc (NASDAQ:AVPT) is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.