Zacks Research Downgrades AvePoint (NASDAQ:AVPT) to Hold

AvePoint (NASDAQ:AVPT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on AVPT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AvePoint in a report on Wednesday, June 24th. Wall Street Zen cut AvePoint from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Scotiabank raised their price target on AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a research report on Friday, August 7th. Evercore reaffirmed an “outperform” rating and set a $16.00 price target on shares of AvePoint in a research note on Friday. Finally, TD Cowen boosted their price objective on shares of AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.44.

AvePoint Trading Up 1.1%

Shares of AvePoint stock opened at $13.13 on Monday. AvePoint has a 12-month low of $8.84 and a 12-month high of $16.77. The stock has a market cap of $2.78 billion, a PE ratio of 41.03 and a beta of 1.16. The company has a 50-day moving average of $11.88 and a two-hundred day moving average of $10.94.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The business had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. On average, sell-side analysts forecast that AvePoint will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian Michael Brown sold 5,176 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $13.06, for a total value of $67,598.56. Following the sale, the insider owned 809,664 shares of the company’s stock, valued at approximately $10,574,211.84. This represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AvePoint

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of AvePoint by 372.6% during the fourth quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock valued at $109,332,000 after acquiring an additional 6,205,829 shares during the last quarter. Parsifal Capital Management LP increased its position in AvePoint by 61.2% during the 3rd quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock worth $127,926,000 after purchasing an additional 3,235,384 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in AvePoint by 620.9% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock valued at $29,733,000 after purchasing an additional 1,843,641 shares during the last quarter. SG Americas Securities LLC raised its stake in AvePoint by 335.2% in the 1st quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock valued at $22,745,000 after purchasing an additional 1,842,124 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in AvePoint by 583.4% in the 3rd quarter. Millennium Management LLC now owns 1,394,604 shares of the company’s stock valued at $20,959,000 after purchasing an additional 1,190,541 shares in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

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.