AvePoint (NASDAQ:AVPT) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of AvePoint (NASDAQ:AVPT) in a report released on Tuesday, Analyst Price Targets reports. The brokerage issued an overweight rating and a $10.00 price target on the stock.

Separately, Zacks Investment Research lowered AvePoint from a hold rating to a sell rating in a research note on Monday, November 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $13.71.

Shares of AVPT opened at $6.23 on Tuesday. The firm has a 50 day simple moving average of $6.90. AvePoint has a 12 month low of $5.87 and a 12 month high of $17.28.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Monday, November 15th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.05). The firm had revenue of $53.93 million during the quarter, compared to analysts’ expectations of $52.47 million. Equities research analysts anticipate that AvePoint will post -0.27 EPS for the current year.

In other AvePoint news, CEO Tianyi Jiang bought 39,000 shares of AvePoint stock in a transaction on Thursday, December 2nd. The shares were bought at an average price of $6.43 per share, for a total transaction of $250,770.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sophia Wu sold 35,000 shares of AvePoint stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $7.03, for a total value of $246,050.00. The disclosure for this sale can be found here. Company insiders own 21.11% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. purchased a new stake in shares of AvePoint in the 3rd quarter valued at $35,000. Koshinski Asset Management Inc. purchased a new stake in shares of AvePoint in the 3rd quarter valued at $62,000. FNY Investment Advisers LLC purchased a new stake in shares of AvePoint in the 3rd quarter valued at $79,000. Moors & Cabot Inc. purchased a new stake in shares of AvePoint in the 3rd quarter valued at $247,000. Finally, US Bancorp DE purchased a new stake in shares of AvePoint in the 3rd quarter valued at $93,000. Hedge funds and other institutional investors own 13.88% of the company’s stock.

AvePoint Company Profile

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.

Further Reading: Return On Assets

Analyst Recommendations for AvePoint (NASDAQ:AVPT)