AvePoint (NASDAQ:AVPT) Downgraded to Hold at Zacks Investment Research

AvePoint (NASDAQ:AVPTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “AvePoint Inc. is a data management solutions provider. AvePoint Inc., formerly known as Apex Technology Acquisition Corporation, is based in JERSEY CITY, N.J. “

Separately, The Goldman Sachs Group cut shares of AvePoint from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Monday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AvePoint presently has an average rating of “Buy” and a consensus target price of $11.56.

Shares of AvePoint stock traded up $0.01 during trading hours on Wednesday, reaching $4.93. 701,532 shares of the company’s stock were exchanged, compared to its average volume of 1,086,349. AvePoint has a 52-week low of $3.88 and a 52-week high of $12.55. The firm has a market capitalization of $900.23 million, a price-to-earnings ratio of -1.52 and a beta of 0.76. The company has a fifty day moving average of $5.08 and a 200-day moving average of $6.03.

AvePoint (NASDAQ:AVPTGet Rating) last posted its quarterly earnings results on Thursday, March 17th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $53.84 million during the quarter, compared to analyst estimates of $57.67 million. AvePoint had a negative return on equity of 33.17% and a negative net margin of 20.43%. As a group, equities analysts forecast that AvePoint will post -0.23 EPS for the current year.

A number of large investors have recently made changes to their positions in AVPT. Advisor Group Holdings Inc. acquired a new stake in shares of AvePoint in the 3rd quarter valued at $35,000. FourThought Financial LLC lifted its position in AvePoint by 192.6% during the 1st quarter. FourThought Financial LLC now owns 6,245 shares of the company’s stock worth $33,000 after acquiring an additional 4,111 shares during the last quarter. Quantbot Technologies LP lifted its position in AvePoint by 136.8% during the 1st quarter. Quantbot Technologies LP now owns 6,867 shares of the company’s stock worth $36,000 after acquiring an additional 3,967 shares during the last quarter. Royal Bank of Canada lifted its position in AvePoint by 97,940.0% during the 1st quarter. Royal Bank of Canada now owns 9,804 shares of the company’s stock worth $52,000 after acquiring an additional 9,794 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in AvePoint during the 4th quarter worth $64,000. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

About AvePoint (Get Rating)

AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products. The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.

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