AvePoint (NASDAQ:AVPT) Shares Down 7.7% – What’s Next?

AvePoint, Inc. (NASDAQ:AVPT) shares were down 7.7% during mid-day trading on Monday . The stock traded as low as $10.67 and last traded at $10.5250. Approximately 604,022 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,918,959 shares. The stock had previously closed at $11.40.

Analysts Set New Price Targets

AVPT has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of AvePoint in a report on Friday, March 27th. B. Riley Financial reduced their price objective on shares of AvePoint from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Cantor Fitzgerald reduced their price objective on shares of AvePoint from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Citigroup reduced their price objective on shares of AvePoint from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Finally, TD Cowen reduced their price objective on shares of AvePoint from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.69.

AvePoint Price Performance

The firm has a 50 day moving average of $10.12 and a two-hundred day moving average of $11.90. The stock has a market cap of $2.26 billion, a PE ratio of 49.86 and a beta of 1.16.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). AvePoint had a net margin of 10.55% and a return on equity of 10.52%. The firm had revenue of $117.24 million during the quarter, compared to analysts’ expectations of $116.43 million. As a group, equities analysts anticipate that AvePoint, Inc. will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On AvePoint

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in AvePoint by 933.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock valued at $28,000 after buying an additional 2,689 shares during the last quarter. Dimensional Fund Advisors LP grew its position in AvePoint by 25.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock valued at $31,040,000 after buying an additional 666,422 shares during the last quarter. Swiss National Bank grew its position in AvePoint by 2.2% in the 1st quarter. Swiss National Bank now owns 277,500 shares of the company’s stock valued at $2,639,000 after buying an additional 6,000 shares during the last quarter. Angeles Wealth Management LLC purchased a new position in AvePoint in the 1st quarter valued at $1,783,000. Finally, Bank of New York Mellon Corp grew its position in AvePoint by 9.4% in the 1st quarter. Bank of New York Mellon Corp now owns 789,069 shares of the company’s stock valued at $7,504,000 after buying an additional 67,514 shares during the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

About AvePoint

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.