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

AvePoint (NASDAQ:AVPT) had its price target hoisted by investment analysts at TD Cowen from $15.00 to $18.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen‘s price target indicates a potential upside of 9.39% from the stock’s previous close.

Several other analysts also recently commented on AVPT. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of AvePoint in a report on Tuesday, September 22nd. Zacks Research cut shares of AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen raised shares of AvePoint from a “hold” rating to a “buy” rating in a report on Saturday. Evercore reaffirmed an “outperform” rating and set a $16.00 price target on shares of AvePoint in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and an average target price of $16.82.

AvePoint Stock Performance

NASDAQ AVPT traded down $0.26 during trading hours on Tuesday, reaching $16.45. The stock had a trading volume of 396,889 shares, compared to its average volume of 2,237,400. The stock has a fifty day moving average of $14.29 and a 200 day moving average of $11.93. The stock has a market cap of $3.48 billion, a P/E 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.

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

Insider Buying and Selling at AvePoint

In related news, insider Brian Brown sold 72,606 shares of the business’s stock in a transaction 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 in the company, valued at $3,961,557.04. The trade was a 21.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 230,000 shares of company stock worth $3,430,412. 22.66% of the stock is owned by insiders.

Institutional Trading of AvePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVPT. Bank of New York Mellon Corp acquired a new stake in AvePoint in the second quarter valued at approximately $8,848,000. Quantinno Capital Management LP increased its position in shares of AvePoint by 307.0% in the first quarter. Quantinno Capital Management LP now owns 109,317 shares of the company’s stock valued at $1,040,000 after buying an additional 82,457 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of AvePoint by 106.7% during the 2nd 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. Scholtz & Company LLC acquired a new position in shares of AvePoint during the 2nd quarter worth approximately $1,975,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of AvePoint by 83.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 232,250 shares of the company’s stock worth $2,209,000 after buying an additional 105,471 shares during the period. Institutional investors and hedge funds own 44.49% of the company’s stock.

About AvePoint

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.