AvePoint (NASDAQ:AVPT) Price Target Raised to $18.00 at Northland Securities

AvePoint (NASDAQ:AVPT) had its price target boosted by Northland Securities from $12.00 to $18.00 in a report issued on Monday, Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Several other research firms have also weighed in on AVPT. Evercore ISI lifted their target price on shares of AvePoint from $9.00 to $10.00 and gave the company an outperform rating in a report on Friday, March 1st. Cantor Fitzgerald lifted their price target on shares of AvePoint from $10.00 to $11.00 and gave the company an overweight rating in a research note on Friday, March 1st.

AvePoint Price Performance

NASDAQ:AVPT opened at $9.91 on Monday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -121.88 and a beta of 0.87. The company has a 50 day moving average price of $8.60 and a 200-day moving average price of $8.19. AvePoint has a 1-year low of $5.46 and a 1-year high of $9.99.

AvePoint (NASDAQ:AVPT) last posted its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $74.53 million during the quarter, compared to analyst estimates of $72.33 million. AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. On average, sell-side analysts anticipate that AvePoint will post -0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $7.86, for a total transaction of $157,200.00. Following the sale, the insider now owns 1,351,240 shares of the company’s stock, valued at approximately $10,620,746.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO James Caci sold 40,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $9.04, for a total transaction of $361,600.00. Following the transaction, the chief financial officer now owns 665,097 shares of the company’s stock, valued at approximately $6,012,476.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $7.86, for a total transaction of $157,200.00. Following the transaction, the insider now directly owns 1,351,240 shares in the company, valued at approximately $10,620,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 80,000 shares of company stock valued at $699,800 in the last 90 days. 27.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVPT. Harvest Fund Management Co. Ltd purchased a new stake in AvePoint in the 4th quarter valued at about $47,000. Aigen Investment Management LP purchased a new stake in AvePoint in the 3rd quarter valued at about $68,000. SG Americas Securities LLC purchased a new stake in AvePoint in the 4th quarter valued at about $95,000. Bayesian Capital Management LP purchased a new stake in AvePoint in the 1st quarter valued at about $130,000. Finally, Quadrature Capital Ltd purchased a new stake in AvePoint in the 4th quarter valued at about $148,000. Institutional investors and hedge funds 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.