Citigroup Lowers AvePoint (NASDAQ:AVPT) Price Target to $15.00

AvePoint (NASDAQ:AVPT) had its price target dropped by Citigroup from $16.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 12.49% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley set a $18.30 price objective on shares of AvePoint in a research report on Monday, October 20th. Baird R W upgraded AvePoint to a “hold” rating in a report on Monday, October 27th. Cantor Fitzgerald reduced their price objective on shares of AvePoint from $22.50 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. DA Davidson initiated coverage on shares of AvePoint in a report on Monday, September 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Zacks Research lowered shares of AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.66.

AvePoint Stock Performance

NASDAQ AVPT traded down $0.30 during trading on Tuesday, hitting $13.34. 458,251 shares of the company’s stock traded hands, compared to its average volume of 2,029,780. The stock has a fifty day moving average of $13.38 and a two-hundred day moving average of $15.27. AvePoint has a 12-month low of $11.49 and a 12-month high of $20.25.

AvePoint (NASDAQ:AVPT) last released its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). AvePoint had a net margin of 0.55% and a return on equity of 0.66%. The company had revenue of $109.73 million during the quarter, compared to the consensus estimate of $105.72 million. On average, equities analysts forecast that AvePoint will post -0.03 EPS for the current year.

Insider Activity

In other AvePoint news, Chairman Xunkai Gong sold 18,321 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $13.80, for a total transaction of $252,829.80. Following the completion of the sale, the chairman directly owned 15,040,668 shares in the company, valued at approximately $207,561,218.40. This trade represents a 0.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Michael Brown sold 1,848 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.03, for a total transaction of $27,775.44. Following the completion of the transaction, the insider owned 631,893 shares in the company, valued at approximately $9,497,351.79. This represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,848 shares of company stock worth $862,444 over the last three months. 26.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently modified their holdings of AVPT. ProShare Advisors LLC boosted its stake in AvePoint by 1.7% in the 2nd quarter. ProShare Advisors LLC now owns 37,656 shares of the company’s stock worth $727,000 after purchasing an additional 638 shares during the period. US Bancorp DE grew its stake in AvePoint by 11.2% during the third quarter. US Bancorp DE now owns 7,962 shares of the company’s stock valued at $120,000 after acquiring an additional 800 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock valued at $44,000 after acquiring an additional 919 shares during the last quarter. ANB Bank lifted its stake in AvePoint by 7.3% in the 2nd quarter. ANB Bank now owns 19,338 shares of the company’s stock worth $373,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of AvePoint by 9.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,578 shares of the company’s stock valued at $219,000 after purchasing an additional 1,314 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Company Profile

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.