AvePoint (NASDAQ:AVPT) Reaches New 12-Month High – Should You Buy?

by · The Markets Daily

Shares of AvePoint, Inc. (NASDAQ:AVPT – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $15.45 and last traded at $15.4350, with a volume of 914,365 shares traded. The stock had previously closed at $14.74.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. DA Davidson restated a “buy” rating and set a $18.00 price objective on shares of AvePoint in a report on Monday, July 6th. Citigroup reaffirmed a “neutral” rating on shares of AvePoint in a research note on Wednesday, August 12th. Phillip Securities upgraded AvePoint to a “moderate buy” rating in a report on Monday, October 5th. Wall Street Zen cut AvePoint from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Finally, BMO Capital Markets assumed coverage on AvePoint in a research note 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 six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

View Our Latest Stock Report on AvePoint

AvePoint Trading Up 4.1%

The company has a 50 day simple moving average of $13.65 and a 200 day simple moving average of $11.95. The stock has a market cap of $3.24 billion, a P/E ratio of 47.92 and a beta of 1.17.

AvePoint (NASDAQ:AVPT – Get Free Report) last issued its quarterly 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 company had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. As a group, sell-side analysts expect that AvePoint, Inc. will post 0.25 earnings per share for the current year.

Insider Activity at AvePoint

In related news, insider Brian Brown sold 28,894 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $15.15, for a total transaction of $437,744.10. Following the completion of the transaction, the insider owned 335,710 shares in the company, valued at approximately $5,086,006.50. This represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 128,894 shares of company stock valued at $1,825,241 over the last 90 days. Insiders own 22.66% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after buying an additional 2,689 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of AvePoint by 26.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock worth $43,000 after buying an additional 802 shares during the last quarter. Allworth Financial LP grew its holdings in shares of AvePoint by 109.6% in the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock valued at $57,000 after acquiring an additional 2,649 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of AvePoint by 26.8% in the 2nd quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock valued at $90,000 after acquiring an additional 1,701 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of AvePoint in the second quarter valued at about $96,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

About AvePoint

(Get Free Report)

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.

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