William Blair analyst Jason Ader has maintained their bullish stance on AVPT stock, giving a Buy rating on September 23.
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Jason Ader has given his Buy rating due to a combination of factors that highlight AvePoint’s strategic positioning and growth potential. The company has outlined a robust plan to achieve over 25% growth and aims to reach a $1 billion annual recurring revenue target by 2029. This growth strategy includes better cross-selling of its products, expanding its ecosystem beyond Microsoft, and increasing penetration in the MSP channel, which is currently experiencing rapid growth.
Additionally, AvePoint is focusing on enhancing its capabilities in data governance and cyber-resilience, particularly in the context of AI systems, which is becoming increasingly critical. The company’s comprehensive product offerings and strategic growth initiatives present an attractive risk/reward profile, especially considering its enterprise-value-to-sales multiple compared to its peers. These factors collectively underpin Jason Ader’s confidence in recommending a Buy rating for AvePoint’s stock.
In another report released on September 23, D.A. Davidson also initiated coverage with a Buy rating on the stock with a $20.00 price target.