William Blair analyst Jason Ader has maintained their bullish stance on AVPT stock, giving a Buy rating on April 30.
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Jason Ader has given his Buy rating due to a combination of factors that highlight AvePoint’s strong performance and promising outlook. The company reported impressive first-quarter results, surpassing expectations in revenue, annual recurring revenue (ARR), and non-GAAP operating income. This success was driven by robust growth in their SaaS offerings across various regions and an increase in large enterprise engagements.
Ader also noted the company’s positive guidance for the future, with management raising their full-year revenue and ARR forecasts. The consistent demand environment and focus on profitable growth further bolster confidence in AvePoint’s trajectory. Despite potential macroeconomic challenges, the company’s emphasis on essential services like data security and governance positions it well for continued success.
In another report released on April 30, Scotiabank also initiated coverage with a Buy rating on the stock with a $19.00 price target.