-$0.18 Earnings Per Share Expected for Avalara Inc (AVLR) This Quarter

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Equities analysts forecast that Avalara Inc (NYSE:AVLR) will announce ($0.18) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avalara’s earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.18). The business is scheduled to announce its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Avalara will report full-year earnings of ($0.70) per share for the current fiscal year, with EPS estimates ranging from ($0.72) to ($0.68). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.39) to ($0.34). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow Avalara.

Avalara (NYSE:AVLR) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.04. The business had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $61.47 million. Avalara’s revenue was up 25.1% on a year-over-year basis.

Several equities analysts have commented on the stock. Bank of America assumed coverage on shares of Avalara in a research report on Tuesday, July 10th. They issued a “neutral” rating and a $55.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Avalara in a research report on Tuesday, July 10th. They issued a “neutral” rating and a $50.00 price target for the company. JMP Securities assumed coverage on shares of Avalara in a research report on Tuesday, July 10th. They issued a “market perform” rating for the company. Stifel Nicolaus assumed coverage on shares of Avalara in a research report on Tuesday, July 10th. They issued a “hold” rating and a $44.00 price target for the company. Finally, KeyCorp assumed coverage on shares of Avalara in a research report on Tuesday, July 10th. They issued a “sector weight” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $48.25.

AVLR stock traded down $0.51 during midday trading on Tuesday, hitting $39.25. The company’s stock had a trading volume of 293,095 shares, compared to its average volume of 723,559. The company has a debt-to-equity ratio of -0.10, a current ratio of 0.45 and a quick ratio of 0.45. Avalara has a 52-week low of $32.10 and a 52-week high of $59.40.

Several institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new stake in shares of Avalara during the 2nd quarter worth $101,000. Point72 Hong Kong Ltd purchased a new stake in shares of Avalara during the 2nd quarter worth $214,000. Wolverine Asset Management LLC purchased a new stake in shares of Avalara during the 2nd quarter worth $278,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Avalara during the 2nd quarter worth $472,000. Finally, Sylebra HK Co Ltd purchased a new stake in shares of Avalara during the 2nd quarter worth $534,000. 1.54% of the stock is owned by institutional investors and hedge funds.

Avalara Company Profile

Avalara, Inc provides transaction tax compliance cloud-based solutions worldwide. It offers a suite of compliance solutions that enable businesses to address the complexity of transaction tax compliance; process transactions in real time; produce detailed records of transaction tax determinations; and reduce errors, audit exposure, and total transaction tax compliance costs.

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Earnings History and Estimates for Avalara (NYSE:AVLR)

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