Goldman Sachs Group Raises Avalara (AVLR) Price Target to $44.00

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Avalara (NYSE:AVLR) had its price target boosted by Goldman Sachs Group to $44.00 in a research report released on Thursday, Marketbeat Ratings reports. Goldman Sachs Group currently has a buy rating on the stock.

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

AVLR stock opened at $39.25 on Thursday. Avalara has a twelve month low of $32.10 and a twelve month high of $59.40. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of -0.10.

Avalara (NYSE:AVLR) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.04. The company had revenue of $63.70 million for the quarter, compared to the consensus estimate of $61.47 million. The firm’s revenue was up 25.1% on a year-over-year basis. equities research analysts forecast that Avalara will post -0.73 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Pier Capital LLC purchased a new stake in Avalara during the 2nd quarter valued at $6,857,000. Dean Capital Investments Management LLC purchased a new stake in Avalara during the 2nd quarter valued at $713,000. First Mercantile Trust Co. purchased a new stake in Avalara during the 2nd quarter valued at $101,000. Millennium Management LLC purchased a new stake in Avalara during the 2nd quarter valued at $3,920,000. Finally, Arrowgrass Capital Partners US LP purchased a new stake in Avalara during the 2nd quarter valued at $2,669,000. Institutional investors and hedge funds own 1.54% of the company’s stock.

About Avalara

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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Analyst Recommendations for Avalara (NYSE:AVLR)

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