Citigroup Has Lowered Expectations for AvePoint (NASDAQ:AVPT) Stock Price

AvePoint (NASDAQ:AVPT) had its price objective dropped by equities researchers at Citigroup from $18.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 11.97% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. The Goldman Sachs Group boosted their price target on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, AvePoint has a consensus rating of “Moderate Buy” and a consensus target price of $15.75.

AvePoint Stock Up 4.9 %

NASDAQ AVPT opened at $14.29 on Tuesday. AvePoint has a fifty-two week low of $7.44 and a fifty-two week high of $19.90. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -285.74 and a beta of 1.11. The business has a fifty day moving average of $17.37 and a 200-day moving average of $15.35.

Hedge Funds Weigh In On AvePoint

Several institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock valued at $73,000 after purchasing an additional 1,010 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in AvePoint by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company’s stock worth $222,000 after acquiring an additional 1,042 shares during the last quarter. Moran Wealth Management LLC increased its stake in AvePoint by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock worth $818,000 after acquiring an additional 1,083 shares during the last quarter. US Bancorp DE increased its stake in AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company’s stock worth $220,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in AvePoint during the fourth quarter worth about $25,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Company Profile

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.