Equities analysts forecast that Avalara Inc (NYSE:AVLR) will post earnings of ($0.10) per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Avalara’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.11). Avalara posted earnings of ($0.03) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 233.3%. The company is scheduled to report its next earnings report on Wednesday, August 5th.
On average, analysts expect that Avalara will report full year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.26) to ($0.11). For the next fiscal year, analysts forecast that the business will post earnings of $0.01 per share, with EPS estimates ranging from ($0.09) to $0.11. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Avalara.
Avalara (NYSE:AVLR) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $111.44 million during the quarter, compared to analyst estimates of $108.24 million. Avalara had a negative net margin of 12.99% and a negative return on equity of 9.88%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS.
Several brokerages recently issued reports on AVLR. JPMorgan Chase & Co. upped their target price on shares of Avalara from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Raymond James upped their target price on shares of Avalara from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Mizuho upped their target price on shares of Avalara from $85.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Stephens reiterated an “overweight” rating and issued a $106.00 target price on shares of Avalara in a research report on Friday, February 14th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Avalara in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $100.03.
Shares of NYSE:AVLR opened at $107.02 on Monday. Avalara has a 52-week low of $55.50 and a 52-week high of $110.32. The firm has a fifty day moving average of $85.85 and a 200 day moving average of $80.44. The firm has a market capitalization of $8.04 billion, a PE ratio of -152.89 and a beta of 0.79.
In other Avalara news, Director William Ingram sold 103,509 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $97.01, for a total transaction of $10,041,408.09. Following the completion of the sale, the director now directly owns 97,470 shares in the company, valued at $9,455,564.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Daniel E. Manning sold 12,949 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $83.47, for a total transaction of $1,080,853.03. Following the sale, the chief accounting officer now owns 13,249 shares of the company’s stock, valued at $1,105,894.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,211 shares of company stock valued at $18,163,343. Company insiders own 21.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. FDx Advisors Inc. bought a new position in shares of Avalara during the first quarter valued at about $927,000. HighTower Advisors LLC raised its stake in shares of Avalara by 44.0% during the first quarter. HighTower Advisors LLC now owns 5,882 shares of the company’s stock valued at $431,000 after acquiring an additional 1,796 shares during the last quarter. Lagoda Investment Management L.P. raised its stake in shares of Avalara by 57.9% during the first quarter. Lagoda Investment Management L.P. now owns 43,360 shares of the company’s stock valued at $3,235,000 after acquiring an additional 15,905 shares during the last quarter. Twinbeech Capital LP bought a new position in shares of Avalara during the first quarter valued at about $504,000. Finally, Tensile Capital Management LLC raised its stake in shares of Avalara by 3.9% during the first quarter. Tensile Capital Management LLC now owns 1,382,789 shares of the company’s stock valued at $103,156,000 after acquiring an additional 51,315 shares during the last quarter. 79.55% 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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