AvePoint (NASDAQ:AVPT) Reaches New 12-Month Low on Disappointing Earnings

AvePoint, Inc. (NASDAQ:AVPT)’s stock price reached a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $12.30 and last traded at $12.5920, with a volume of 164750 shares trading hands. The stock had previously closed at $13.84.

The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $109.73 million during the quarter, compared to analysts’ expectations of $105.72 million. AvePoint had a net margin of 0.55% and a return on equity of 0.71%. AvePoint has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Analysts Set New Price Targets

A number of research analysts have commented on AVPT shares. Scotiabank lowered their price target on AvePoint from $22.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Friday. Morgan Stanley set a $18.30 target price on AvePoint in a report on Monday, October 20th. Dbs Bank raised AvePoint to a “moderate buy” rating in a research note on Monday, October 6th. Jefferies Financial Group assumed coverage on shares of AvePoint in a research report on Monday, July 21st. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Citigroup decreased their price objective on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.03.

Insider Activity

In other news, Chairman Xunkai Gong sold 18,321 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $13.80, for a total value of $252,829.80. Following the sale, the chairman directly owned 15,040,668 shares of the company’s stock, valued at $207,561,218.40. This represents a 0.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Michael Brown sold 1,848 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $15.03, for a total transaction of $27,775.44. Following the completion of the transaction, the insider owned 631,893 shares of the company’s stock, valued at approximately $9,497,351.79. The trade was a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 5,755,780 shares of company stock worth $87,487,316. Corporate insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several large investors have recently made changes to their positions in the business. CenterBook Partners LP grew its stake in shares of AvePoint by 133.9% in the 3rd quarter. CenterBook Partners LP now owns 177,413 shares of the company’s stock worth $2,663,000 after buying an additional 101,575 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AvePoint by 4.3% in the third quarter. Vanguard Group Inc. now owns 17,209,139 shares of the company’s stock worth $258,309,000 after acquiring an additional 704,825 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AvePoint by 166.5% in the third quarter. JPMorgan Chase & Co. now owns 1,389,205 shares of the company’s stock worth $20,852,000 after acquiring an additional 867,998 shares during the last quarter. Essex Investment Management Co. LLC grew its stake in shares of AvePoint by 1.1% in the third quarter. Essex Investment Management Co. LLC now owns 518,232 shares of the company’s stock worth $7,779,000 after acquiring an additional 5,529 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of AvePoint during the third quarter valued at $240,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Price Performance

The firm has a 50-day moving average price of $15.05 and a 200-day moving average price of $16.86.

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.