AvePoint (NASDAQ:AVPT) Rating Increased to Buy at Zacks Investment Research

AvePoint (NASDAQ:AVPTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $6.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.99% from the stock’s previous close.

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 lowered AvePoint from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research note on Monday, March 21st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $11.49.

Shares of AVPT stock traded down $0.08 during trading hours on Tuesday, reaching $5.31. The company had a trading volume of 851,407 shares, compared to its average volume of 1,079,203. AvePoint has a twelve month low of $3.88 and a twelve month high of $12.55. The company has a market capitalization of $969.62 million, a P/E ratio of -1.64 and a beta of 0.76. The stock’s fifty day simple moving average is $5.08 and its 200 day simple moving average is $5.89.

AvePoint (NASDAQ:AVPTGet Rating) last posted its earnings results on Thursday, March 17th. The company reported ($0.04) earnings per share (EPS) for the quarter. AvePoint had a negative net margin of 20.43% and a negative return on equity of 29.73%. The company had revenue of $53.84 million during the quarter, compared to analyst estimates of $57.67 million. Research analysts forecast that AvePoint will post -0.23 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Asset Management Inc. increased its position in shares of AvePoint by 15.7% in the 1st quarter. National Asset Management Inc. now owns 19,950 shares of the company’s stock worth $105,000 after purchasing an additional 2,700 shares during the last quarter. Quantbot Technologies LP increased its position in shares of AvePoint by 136.8% in the 1st quarter. Quantbot Technologies LP now owns 6,867 shares of the company’s stock worth $36,000 after purchasing an additional 3,967 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of AvePoint in the 3rd quarter worth about $35,000. FourThought Financial LLC increased its position in shares of AvePoint by 192.6% in the 1st quarter. FourThought Financial LLC now owns 6,245 shares of the company’s stock worth $33,000 after purchasing an additional 4,111 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AvePoint by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 424,602 shares of the company’s stock worth $2,671,000 after purchasing an additional 5,005 shares during the last quarter. 33.70% of the stock is owned by 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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