William Blair analyst Jason Ader has maintained their bullish stance on AVPT stock, giving a Buy rating today.
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Jason Ader has given his Buy rating due to a combination of factors including AvePoint’s strong performance in the latest quarter and its strategic positioning in the AI sector. The company demonstrated robust SaaS momentum with record net new ARR and continued margin expansion, despite facing some challenges from the U.S. federal sector due to the government shutdown.
AvePoint’s revenue exceeded expectations, driven by significant growth across all geographic regions and an increase in large enterprise customers. The company’s SaaS revenue saw a substantial year-over-year increase, highlighting demand for its data protection and governance solutions. Additionally, AvePoint’s non-GAAP operating income surpassed consensus, showcasing its operational efficiency and potential for future growth.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $18.00 price target.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVPT in relation to earlier this year.