William Blair analyst Jason Ader has maintained their bullish stance on AVPT stock, giving a Buy rating on August 1.
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Jason Ader has given his Buy rating due to a combination of factors, including AvePoint’s strong performance and promising outlook. The company demonstrated impressive results in the second quarter, surpassing revenue expectations by $5.7 million, which represents a 27% year-over-year growth in constant currency. This growth was fueled by the continued momentum in their SaaS offerings across various geographies and customer segments, as well as notable achievements in services.
Management’s optimistic guidance further supports the Buy rating. They have raised the full-year revenue growth forecast, reflecting confidence in sustained demand and execution. The SaaS segment, which now constitutes a significant portion of total sales, grew by 40% year-over-year, indicating a successful strategic shift. Additionally, the company’s non-GAAP operating income exceeded consensus, showcasing effective cost management and profitability improvements. These factors collectively justify the positive outlook and Buy recommendation for AvePoint’s stock.
In another report released on August 1, Northland Securities also reiterated a Buy rating on the stock with a $26.00 price target.