Citigroup Lowers AvePoint (NASDAQ:AVPT) Price Target to $16.00

AvePoint (NASDAQ:AVPT) had its target price dropped by Citigroup from $18.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 18.52% from the stock’s previous close.

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

AvePoint Trading Down 6.0 %

AVPT opened at $13.50 on Tuesday. The stock’s fifty day simple moving average is $17.47 and its 200 day simple moving average is $15.34. AvePoint has a 1-year low of $7.44 and a 1-year high of $19.90. The stock has a market cap of $2.52 billion, a PE ratio of -269.95 and a beta of 1.11.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in AvePoint in the 4th quarter worth about $25,000. Heck Capital Advisors LLC bought a new position in shares of AvePoint during the fourth quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of AvePoint in the fourth quarter valued at approximately $40,000. National Bank of Canada FI bought a new stake in shares of AvePoint in the third quarter valued at approximately $29,000. Finally, R Squared Ltd acquired a new stake in AvePoint during the fourth quarter worth approximately $45,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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.