12 Best Nasdaq Stocks Under $20 to Buy Now

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10. AvePoint Inc. (NASDAQ:AVPT)

Current market price: $13.79

Upside Potential: 34%

Number of Hedge Fund Holders: 40

AvePoint Inc. (NASDAQ:AVPT) is a leading provider of cloud-based data management solutions, specializing in SaaS applications for Microsoft 365, SharePoint, and other enterprise collaboration platforms. Its software helps organizations manage data security, compliance, and migration in cloud environments.

In its February Investor Presentation, AvePoint Inc. (NASDAQ:AVPT) highlighted a large addressable market of $80.4 billion in 2024, which is expected to grow to $136.5 billion by 2028, at a compounded annual growth rate of over 14%. Apart from a stronger topline growth, the company is focussing on improving its operating margin to 20%-25% over the long-term, from the current ~14% level.

While Citi analyst Fatima Boolani reduced AvePoint Inc.’s (NASDAQ:AVPT) price target from $18 to $16 and maintained a Neutral rating, she remained positive about the company’s prospects. The analyst noted that the company’s investor day provided greater clarity on its upcoming Singapore dual-listing, which could serve as a distinctive catalyst for attracting more institutional investors. Her cautious stance stemmed from the intensifying competition in the space, while the price target adjustment reflected her updated earnings estimates.

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