AvePoint (AVPT) Set to Announce Earnings on Thursday

AvePoint (NASDAQ:AVPT) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. AvePoint has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The firm had revenue of $77.96 million for the quarter, compared to the consensus estimate of $75.17 million. During the same period last year, the firm earned ($0.07) EPS. The company’s revenue for the quarter was up 20.2% 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 Stock Up 1.5 %

Shares of AVPT stock opened at $12.51 on Wednesday. The firm has a market cap of $2.34 billion, a P/E ratio of -156.38 and a beta of 0.88. AvePoint has a 12-month low of $7.08 and a 12-month high of $12.66. The business has a 50-day moving average price of $11.88 and a two-hundred day moving average price of $10.42.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AVPT shares. Cantor Fitzgerald increased their target price on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Northland Securities increased their target price on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th.

Insider Activity at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $10.89, for a total transaction of $108,900.00. Following the completion of the transaction, the insider now owns 18,440,673 shares of the company’s stock, valued at $200,818,928.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO James Caci sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total value of $327,300.00. Following the transaction, the chief financial officer now directly owns 630,084 shares in the company, valued at $6,874,216.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $10.89, for a total value of $108,900.00. Following the completion of the transaction, the insider now owns 18,440,673 shares in the company, valued at approximately $200,818,928.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock valued at $1,724,500 in the last 90 days. Corporate insiders own 27.78% of the company’s stock.

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.