TD Cowen analyst Derrick Wood reiterated a Buy rating on AvePoint yesterday and set a price target of $18.00.
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Derrick Wood has given his Buy rating due to a combination of factors that highlight AvePoint’s strategic positioning and growth potential. The company is aiming for significant growth in its annual recurring revenue, targeting a compound annual growth rate of approximately 25% through 2029. This ambitious target is supported by a diverse product portfolio, including the Resilience Suite, Control Suite, and Modernization Suite, which collectively cater to data security, governance, and migration needs.
Additionally, AvePoint’s recent launch of the AgentPulse Command Center underscores its innovative approach to addressing emerging challenges in AI governance and data management. By enhancing its capabilities in managing AI agents and enterprise data, AvePoint is positioning itself as a leader in the convergence of data protection and governance. This strategic focus not only differentiates it from competitors but also aligns with the increasing demand for integrated solutions in the SaaS and AI environments. These factors collectively contribute to Derrick Wood’s positive outlook on AvePoint’s stock.
In another report released on November 10, DBS also maintained a Buy rating on the stock with a S$28.00 price target.