AvePoint price target raised to $13 from $11 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on AvePoint to $13 from $11 and keeps an Overweight rating on the shares. AvePoint reported a solid quarter with a beat and raise on the top and bottom line as annual recurring revenue grew 22.8% year over year, a better indication of the health of the business as the company has intentionally de-emphasized TLS and Services revenues, the analyst tells investors in a research note. The firm views AvePoint as a unique bridge between AI deployment and enterprises with limited risk.