AvePoint (NASDAQ:AVPT) Price Target Raised to $13.00 at Cantor Fitzgerald

AvePoint (NASDAQ:AVPT) had its price objective raised by Cantor Fitzgerald from $11.00 to $13.00 in a research note published on Friday, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Separately, Northland Securities raised their target price on shares of AvePoint from $12.00 to $18.00 and gave the company an outperform rating in a research note on Monday, June 17th.

AvePoint Stock Down 1.1 %

Shares of NASDAQ AVPT traded down $0.11 on Friday, reaching $10.06. 1,495,414 shares of the company’s stock traded hands, compared to its average volume of 994,885. AvePoint has a 12 month low of $5.86 and a 12 month high of $11.07. The business’s 50 day simple moving average is $10.08 and its two-hundred day simple moving average is $8.77. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -125.75 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The business had revenue of $77.96 million for the quarter, compared to the consensus estimate of $75.17 million. During the same period in the prior year, the business posted ($0.07) EPS. AvePoint’s revenue for the quarter was up 20.2% on a year-over-year basis. Analysts forecast that AvePoint will post -0.05 earnings per share for the current fiscal year.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the sale, the insider now owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the sale, the insider now owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Caci sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $9.04, for a total transaction of $361,600.00. Following the sale, the chief financial officer now directly owns 665,097 shares of the company’s stock, valued at approximately $6,012,476.88. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock valued at $965,600 over the last 90 days. Corporate insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in AvePoint by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock worth $119,192,000 after purchasing an additional 89,564 shares during the period. Principal Financial Group Inc. grew its position in AvePoint by 370.3% in the 1st quarter. Principal Financial Group Inc. now owns 80,697 shares of the company’s stock worth $639,000 after purchasing an additional 63,538 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of AvePoint during the 4th quarter worth $3,590,000. CenterBook Partners LP purchased a new position in shares of AvePoint during the 4th quarter worth $1,097,000. Finally, Calamos Advisors LLC purchased a new position in shares of AvePoint during the 4th quarter worth $1,260,000. Institutional investors own 44.49% of the company’s stock.

About AvePoint

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.