Why AvePoint Stock Spiked on Wednesday?
- Date: 22-Jul-2021
- Source: Nasdaq
- Sector:Financial Markets
- Country:Middle East
Why AvePoint Stock Spiked on Wednesday?
Shares of AvePoint, Inc. (AVPT) spiked 12.9% following the news that Goldman Sachs initiated coverage of the company with a Buy rating. Shares closed at $11.42 on July 21.
AvePoint is the largest Microsoft 365 data management solutions provider and offers the only full suite of Software-as-a-Service (SaaS) solutions to migrate, manage, and protect data in Microsoft 365. The company has more than 7 million cloud users, including some of the Fortune 500 companies.
AvePoint started trading on July 2, after consummating an SPAC merger with Apex Technology Acquisition Corp. The stock is down almost 5% since its IPO. (See AvePoint stock charts on TipRanks)
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