Citi analyst Fatima Boolani raised the firm’s price target on AvePoint to $9 from $8 and keeps a Neutral rating on the shares. The analyst says field work of cyber decision-makers indicated slower budget growth. While the firm isn’t “outright dour” on cybersecurity the group, it thinks “this deservedly defensive budget (and stock) sub-segment” amid broader software spending is unlikely to see the upside budgetary and returns “beta” versus the sub-sector at-large.
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Read More on AVPT:
- AvePoint to Participate in 26th Annual Needham Growth Conference
- AvePoint Introduces Public Preview of AvePoint Confide to Secure and Simplify External Collaboration
- AvePoint Announces Cloud Backup Express to Enable Accelerated, Secure Data Protection
- AvePoint price target raised to $8.50 from $8.00 at TD Cowen
