Avalara (NYSE:AVLR) had its target price cut by investment analysts at Raymond James from $100.00 to $95.00 in a report released on Wednesday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 31.40% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. increased their target price on Avalara from $78.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Mizuho reissued a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of Avalara in a report on Wednesday. First Analysis began coverage on Avalara in a report on Friday, July 26th. They set a “strong-buy” rating for the company. Stephens set a $105.00 target price on Avalara and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, KeyCorp set a $101.00 price target on Avalara and gave the company a “buy” rating in a report on Sunday, September 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Avalara has an average rating of “Buy” and an average price target of $85.60.
Shares of Avalara stock opened at $72.30 on Wednesday. The business has a 50 day simple moving average of $71.48 and a two-hundred day simple moving average of $74.09. Avalara has a 12 month low of $28.09 and a 12 month high of $94.31. The stock has a market capitalization of $5.39 billion, a P/E ratio of -66.94 and a beta of 0.52.
Avalara (NYSE:AVLR) last announced its earnings results on Tuesday, November 5th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.19. Avalara had a negative return on equity of 23.05% and a negative net margin of 20.13%. The business had revenue of $98.50 million during the quarter, compared to analysts’ expectations of $93.13 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The business’s revenue was up 41.7% compared to the same quarter last year. As a group, equities analysts forecast that Avalara will post -0.65 EPS for the current fiscal year.
In related news, insider William Ingram sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $85.67, for a total value of $2,141,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott M. Mcfarlane sold 102,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $83.75, for a total value of $8,542,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 905,521 shares of company stock valued at $76,660,837. Insiders own 21.10% of the company’s stock.
Several large investors have recently bought and sold shares of AVLR. Squar Milner Financial Services LLC grew its position in Avalara by 1,145.2% in the third quarter. Squar Milner Financial Services LLC now owns 386 shares of the company’s stock worth $25,000 after acquiring an additional 355 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Avalara in the second quarter worth approximately $36,000. Parallel Advisors LLC purchased a new position in Avalara in the third quarter worth approximately $49,000. First Bank & Trust purchased a new position in Avalara in the third quarter worth approximately $65,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Avalara by 47.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 971 shares of the company’s stock worth $71,000 after acquiring an additional 313 shares during the period. 78.49% of the stock is owned by hedge funds and other institutional investors.
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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