Brokerages Anticipate AvePoint, Inc. (NASDAQ:AVPT) Will Announce Quarterly Sales of $57.67 Million

Wall Street analysts expect AvePoint, Inc. (NASDAQ:AVPT) to announce $57.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for AvePoint’s earnings, with estimates ranging from $57.40 million to $58.10 million. The firm is expected to issue its next quarterly earnings results on Monday, February 21st.

According to Zacks, analysts expect that AvePoint will report full year sales of $195.73 million for the current financial year, with estimates ranging from $195.50 million to $196.10 million. For the next financial year, analysts expect that the business will post sales of $256.67 million, with estimates ranging from $254.30 million to $258.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow AvePoint.

Several equities analysts have recently weighed in on AVPT shares. Cowen started coverage on shares of AvePoint in a research note on Monday, August 16th. They set an “outperform” rating and a $14.50 price target for the company. Zacks Investment Research cut shares of AvePoint from a “hold” rating to a “sell” rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, AvePoint presently has a consensus rating of “Buy” and an average target price of $14.33.

In other news, Chairman Xunkai Gong bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was acquired at an average cost of $9.65 per share, with a total value of $241,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.11% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in AVPT. Advisor Group Holdings Inc. bought a new position in shares of AvePoint in the third quarter valued at $35,000. Koshinski Asset Management Inc. bought a new position in AvePoint during the third quarter worth $62,000. FNY Investment Advisers LLC bought a new position in AvePoint during the third quarter worth $79,000. US Bancorp DE bought a new position in AvePoint during the third quarter worth $93,000. Finally, Squarepoint Ops LLC bought a new position in AvePoint during the third quarter worth $95,000. 2.42% of the stock is owned by institutional investors and hedge funds.

NASDAQ AVPT traded up $0.10 during trading on Friday, hitting $7.04. The stock had a trading volume of 796,159 shares, compared to its average volume of 1,201,653. AvePoint has a 12 month low of $6.70 and a 12 month high of $17.90. The company has a 50-day moving average price of $8.62.

AvePoint Company Profile

AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers a suite of SaaS solutions to migrate, manage, and protect data. The company provides cloud solutions for Office 365, Salesforce, and Dynamics 365; and hybrid/on-prem products. It also offers advisory and implementation, maintenance and support, Microsoft Teams surge and advisory, migration as a service, and quick start services.

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