Our Stock of the Week is AvePoint (AVPT). AvePoint Inc. is a Microsoft 365 data management solutions provider that offers a full suite of SaaS solutions to migrate, manage, and protect data. It sees itself as a leader in data management and data governance and has over 21,000 customers worldwide that rely on its platform to modernize digital workplaces that use Microsoft, Google, Salesforce, and other collaboration environments. AVPT says it is considered to be one of the most advanced SaaS data management and data governance players in the Microsoft Cloud Ecosystem. It is a multi-cloud offering but is very focused on the Microsoft tech stack, which produces more than 90% of its revenue.
The company is expected to earn $0.17 in 2024 and grow it 38% in 2025 to $0.23. Most of its revenue is reoccurring. The high target on the street is Northland which increased its target to $18 from $12 in mid-June.
Technically the stock has been stairsteping higher. It is consolidating nicely as it awaits earnings in a few weeks. A break over the $10.50 should trigger momentum buyers. As always we will not chase the stock on Monday morning but will aggressively trade it as it develops.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and buy or sell anytime for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in AVPT. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
