AvePoint (NASDAQ:AVPT) Stock Rating Lowered by Zacks Investment Research

AvePoint (NASDAQ:AVPTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 lowered AvePoint from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Monday, March 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $11.49.

Shares of NASDAQ:AVPT traded down $0.06 during trading on Wednesday, hitting $5.68. 838,127 shares of the stock were exchanged, compared to its average volume of 1,066,939. AvePoint has a 1-year low of $3.88 and a 1-year high of $12.55. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.75 and a beta of 0.73. The company’s fifty day simple moving average is $5.11 and its 200-day simple moving average is $5.70.

AvePoint (NASDAQ:AVPTGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The company reported ($0.04) EPS for the quarter. The company had revenue of $53.84 million during the quarter, compared to analyst estimates of $57.67 million. AvePoint had a negative net margin of 20.43% and a negative return on equity of 29.73%. As a group, analysts forecast that AvePoint will post -0.21 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Phoenix Holdings Ltd. bought a new position in AvePoint in the 4th quarter valued at $1,887,000. Penserra Capital Management LLC bought a new stake in shares of AvePoint during the third quarter worth $160,000. Advisor Group Holdings Inc. bought a new stake in shares of AvePoint during the third quarter worth $35,000. Monarch Alternative Capital LP bought a new stake in shares of AvePoint during the third quarter worth $30,140,000. Finally, National Asset Management Inc. bought a new stake in shares of AvePoint during the third quarter worth $389,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

AvePoint Company Profile (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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