$48.67 Million in Sales Expected for AvePoint, Inc. (NASDAQ:AVPT) This Quarter

Analysts forecast that AvePoint, Inc. (NASDAQ:AVPTGet Rating) will announce $48.67 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for AvePoint’s earnings, with the lowest sales estimate coming in at $48.50 million and the highest estimate coming in at $49.00 million. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that AvePoint will report full-year sales of $239.17 million for the current financial year, with estimates ranging from $239.00 million to $239.50 million. For the next financial year, analysts forecast that the business will report sales of $314.73 million, with estimates ranging from $300.30 million to $323.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover AvePoint.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded AvePoint from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Wednesday, March 23rd. The Goldman Sachs Group lowered AvePoint from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a report on Monday, March 21st. Finally, Cantor Fitzgerald assumed coverage on AvePoint in a report on Tuesday, January 11th. They set an “overweight” rating and a $10.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $11.56.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. acquired a new position in shares of AvePoint during the third quarter worth approximately $35,000. Charles Schwab Investment Management Inc. raised its stake in AvePoint by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 424,602 shares of the company’s stock valued at $2,671,000 after purchasing an additional 5,005 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in AvePoint by 135.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 17,170 shares of the company’s stock valued at $108,000 after purchasing an additional 9,882 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in AvePoint in the 4th quarter valued at $64,000. Finally, Moors & Cabot Inc. bought a new stake in AvePoint in the 3rd quarter valued at $247,000. 13.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AvePoint stock traded up $0.06 during midday trading on Tuesday, reaching $5.15. 1,594,156 shares of the company’s stock traded hands, compared to its average volume of 1,629,306. AvePoint has a 52 week low of $4.78 and a 52 week high of $12.55. The company’s 50 day simple moving average is $5.48 and its 200 day simple moving average is $6.62.

About AvePoint (Get Rating)

AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers a suite of SaaS solutions to migrate, manage, and protect data. The company provides cloud solutions for Office 365, Salesforce, and Dynamics 365; and hybrid/on-prem products. It also offers advisory and implementation, maintenance and support, Microsoft Teams surge and advisory, migration as a service, and quick start services.

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