AvePoint (AVPT) Scheduled to Post Quarterly Earnings on Thursday

AvePoint (NASDAQ:AVPT) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, May 9th. AvePoint has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The company had revenue of $74.60 million for the quarter, compared to analyst estimates of $71.57 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts expect AvePoint to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

AvePoint Price Performance

Shares of AvePoint stock opened at $8.18 on Tuesday. AvePoint has a 1 year low of $4.38 and a 1 year high of $8.61. The company has a market capitalization of $1.51 billion, a P/E ratio of -68.17 and a beta of 0.84. The business has a 50 day moving average price of $7.86 and a 200 day moving average price of $7.93.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $7.86, for a total value of $157,200.00. Following the completion of the sale, the insider now directly owns 1,351,240 shares of the company’s stock, valued at approximately $10,620,746.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 43,061 shares of company stock valued at $343,888. Company insiders own 27.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AVPT shares. Cantor Fitzgerald lifted their price objective on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Evercore ISI lifted their price objective on AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Citigroup lifted their price objective on AvePoint from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th.

About AvePoint

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.