Brokerages Anticipate Avalara Inc (NYSE:AVLR) to Post -$0.10 EPS

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Wall Street analysts expect that Avalara Inc (NYSE:AVLR) will report earnings of ($0.10) per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Avalara’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.11). Avalara posted earnings of ($0.14) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 28.6%. The firm is expected to announce its next earnings report on Wednesday, November 6th.

On average, analysts expect that Avalara will report full-year earnings of ($0.22) per share for the current year, with EPS estimates ranging from ($0.27) to ($0.15). For the next financial year, analysts forecast that the firm will post earnings of $0.04 per share, with EPS estimates ranging from ($0.17) to $0.25. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Avalara.

Avalara (NYSE:AVLR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. Avalara had a negative net margin of 20.13% and a negative return on equity of 23.05%. The business had revenue of $91.30 million during the quarter, compared to analysts’ expectations of $84.63 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The firm’s revenue was up 42.9% on a year-over-year basis.

Several brokerages recently commented on AVLR. Zacks Investment Research cut shares of Avalara from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Stifel Nicolaus upgraded shares of Avalara from a “hold” rating to a “buy” rating and increased their target price for the stock from $52.00 to $100.00 in a report on Thursday, August 8th. KeyCorp restated an “overweight” rating and set a $101.00 target price (up previously from $74.00) on shares of Avalara in a report on Thursday, August 8th. Stephens began coverage on shares of Avalara in a report on Tuesday, July 30th. They set an “overweight” rating and a $105.00 target price for the company. Finally, First Analysis began coverage on shares of Avalara in a report on Friday, July 26th. They set a “strong-buy” rating for the company. One investment 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’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.44.

In other Avalara news, insider Alesia Lee Pinney sold 43,942 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $72.95, for a total value of $3,205,568.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott M. Mcfarlane sold 102,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $83.75, for a total transaction of $8,542,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,972,468 shares of company stock valued at $626,916,920. Corporate insiders own 21.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AVLR. FNY Investment Advisers LLC bought a new position in shares of Avalara in the second quarter valued at about $80,000. Metropolitan Life Insurance Co. NY increased its position in Avalara by 209.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock worth $100,000 after acquiring an additional 2,180 shares during the period. Janus Henderson Group PLC increased its position in Avalara by 7,090.1% during the first quarter. Janus Henderson Group PLC now owns 1,588,160 shares of the company’s stock worth $88,603,000 after acquiring an additional 1,566,072 shares during the period. Marshall Wace LLP bought a new position in Avalara during the first quarter worth about $2,232,000. Finally, Coronation Fund Managers Ltd. bought a new position in Avalara during the first quarter worth about $4,356,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.

AVLR traded up $0.94 during trading hours on Friday, hitting $85.32. 1,904,600 shares of the company’s stock were exchanged, compared to its average volume of 928,651. Avalara has a 1-year low of $28.09 and a 1-year high of $94.31. The stock’s 50-day moving average is $82.18 and its two-hundred day moving average is $64.73. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of -79.00 and a beta of 0.59.

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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