Citigroup Cuts AvePoint (NASDAQ:AVPT) Price Target to $13.00

AvePoint (NASDAQ:AVPT) had its target price lowered by Citigroup from $15.00 to $13.00 in a research report sent to investors on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on AVPT. B. Riley Financial lowered their price objective on AvePoint from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. TD Cowen decreased their target price on AvePoint from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Zacks Research lowered AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Jefferies Financial Group dropped their price target on AvePoint from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, DA Davidson decreased their price objective on AvePoint from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.11.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $11.11 on Monday. The firm has a market cap of $2.40 billion, a PE ratio of 69.44 and a beta of 1.12. The firm has a fifty day moving average of $11.96 and a 200 day moving average of $13.58. AvePoint has a one year low of $9.85 and a one year high of $20.25.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $114.69 million during the quarter, compared to analyst estimates of $110.94 million. AvePoint had a net margin of 8.34% and a return on equity of 8.19%. On average, equities analysts predict that AvePoint will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at AvePoint

In related news, Chairman Xunkai Gong sold 32,002 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $13.66, for a total value of $437,147.32. Following the completion of the sale, the chairman owned 14,948,666 shares of the company’s stock, valued at approximately $204,198,777.56. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of AvePoint by 372.6% in the 4th quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock valued at $109,332,000 after buying an additional 6,205,829 shares during the period. Invesco Ltd. lifted its holdings in AvePoint by 218.0% in the second quarter. Invesco Ltd. now owns 5,335,882 shares of the company’s stock valued at $103,036,000 after acquiring an additional 3,657,692 shares during the last quarter. Parsifal Capital Management LP grew its position in AvePoint by 61.2% in the third quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock worth $127,926,000 after acquiring an additional 3,235,384 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in AvePoint by 620.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock worth $29,733,000 after acquiring an additional 1,843,641 shares during the last quarter. Finally, Prudential PLC acquired a new stake in AvePoint during the third quarter worth $26,824,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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.