AvePoint Inc reports results for the quarter ended June 30 - Earnings Summary

• AvePoint Inc AVPT.OQ reported quarterly adjusted earnings of 3 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -1 cents. The mean expectation of nine analysts for the quarter was for earnings of 5 cents per share. Wall Street expected results to range from 4 cents to 6 cents per share.

• Revenue rose 30.9% to $102.02 million from a year ago; analysts expected $95.96 million.

• AvePoint Inc's reported EPS for the quarter was 1 cent​.

• The company reported quarterly net income of $2.7 million.

• AvePoint Inc shares had fallen by 7.5% this quarter and gained 8.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 4.4% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the it services & consulting peer group is also "buy"

• Wall Street's median 12-month price target for AvePoint Inc is $21.50, about 18.6% above its last closing price of $17.50

This summary was machine generated from LSEG data August 8 at 03:53 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)