William Blair started coverage on shares of Avalara (NYSE:AVLR) in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage issued an outperform rating on the stock.
Other analysts have also recently issued research reports about the stock. KeyCorp increased their price target on shares of Avalara from $54.00 to $74.00 and gave the company an overweight rating in a research note on Wednesday, May 8th. Stephens started coverage on shares of Avalara in a research note on Tuesday, July 30th. They issued an overweight rating and a $105.00 price target for the company. Zacks Investment Research cut shares of Avalara from a buy rating to a hold rating in a research note on Friday, July 26th. JMP Securities increased their price target on shares of Avalara from $49.00 to $67.00 and gave the company a market outperform rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC increased their price target on shares of Avalara from $64.00 to $85.00 and gave the company a buy rating in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $91.00.
Avalara stock traded up $9.46 during mid-day trading on Wednesday, reaching $89.94. The company’s stock had a trading volume of 1,490,908 shares, compared to its average volume of 717,179. The stock has a market cap of $5.42 billion, a P/E ratio of -83.28 and a beta of 0.59. Avalara has a 12 month low of $28.09 and a 12 month high of $87.07. The firm’s 50 day simple moving average is $79.40.
Avalara (NYSE:AVLR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. The firm had revenue of $91.30 million during the quarter, compared to analysts’ expectations of $84.63 million. Avalara had a negative net margin of 23.56% and a negative return on equity of 32.45%. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) earnings per share. As a group, analysts predict that Avalara will post -0.55 EPS for the current year.
In other Avalara news, insider William Ingram sold 25,000 shares of Avalara stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $71.29, for a total value of $1,782,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alesia Lee Pinney sold 1,184 shares of Avalara stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $75.83, for a total transaction of $89,782.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,928,391 shares of company stock valued at $622,429,116. 21.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of AVLR. Quantamental Technologies LLC raised its stake in Avalara by 272.3% in the 1st quarter. Quantamental Technologies LLC now owns 1,117 shares of the company’s stock worth $62,000 after purchasing an additional 817 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Avalara in the 2nd quarter worth about $80,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Avalara in the 1st quarter worth about $89,000. Aperio Group LLC acquired a new stake in Avalara in the 2nd quarter worth about $92,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Avalara by 209.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock worth $100,000 after purchasing an additional 2,180 shares in the last quarter. Institutional investors and hedge funds own 78.60% of the company’s stock.
Avalara Company Profile
Avalara, Inc provides cloud-based solutions for transaction tax compliance 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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