Avalara Inc (NYSE:AVLR) Expected to Post Quarterly Sales of $93.07 Million

Analysts expect Avalara Inc (NYSE:AVLR) to post sales of $93.07 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Avalara’s earnings, with the lowest sales estimate coming in at $92.50 million and the highest estimate coming in at $93.50 million. Avalara reported sales of $69.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.9%. The business is scheduled to announce its next earnings report on Wednesday, November 6th.

On average, analysts expect that Avalara will report full-year sales of $364.94 million for the current financial year, with estimates ranging from $364.00 million to $365.33 million. For the next fiscal year, analysts expect that the business will report sales of $451.87 million, with estimates ranging from $439.23 million to $465.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Avalara.

Avalara (NYSE:AVLR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 return on equity of 23.05% and a negative net margin of 20.13%. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) EPS.

Several analysts have weighed in on the company. Needham & Company LLC boosted their price objective on Avalara from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Stephens assumed coverage on Avalara in a research note on Tuesday, July 30th. They issued an “overweight” rating and a $105.00 price target for the company. William Blair assumed coverage on Avalara in a research note on Wednesday, August 7th. They issued an “outperform” rating and a $5.40 price target for the company. Canaccord Genuity assumed coverage on Avalara in a research note on Monday, August 26th. They issued a “buy” rating and a $100.00 price target for the company. Finally, First Analysis assumed coverage on Avalara in a research note on Friday, July 26th. They issued a “strong-buy” rating for the company. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Avalara presently has an average rating of “Buy” and an average target price of $85.37.

In related news, insider Alesia Lee Pinney sold 2,265 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $79.26, for a total value of $179,523.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Chelsea R. Stoner sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.89, for a total value of $531,230.00. Over the last ninety days, insiders sold 910,047 shares of company stock valued at $77,111,828. 21.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of AVLR. Whale Rock Capital Management LLC acquired a new position in shares of Avalara in the 2nd quarter valued at approximately $203,007,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in Avalara by 442.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,768,309 shares of the company’s stock worth $154,444,000 after acquiring an additional 2,258,145 shares during the last quarter. Vanguard Group Inc. boosted its position in Avalara by 84.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,343,045 shares of the company’s stock worth $313,568,000 after acquiring an additional 1,992,677 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Avalara during the 2nd quarter worth approximately $136,111,000. Finally, TimesSquare Capital Management LLC acquired a new position in Avalara during the 1st quarter worth approximately $101,595,000. Institutional investors and hedge funds own 78.50% of the company’s stock.

NYSE:AVLR traded up $1.26 on Wednesday, hitting $76.34. 1,213,624 shares of the stock were exchanged, compared to its average volume of 1,022,603. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of -70.69 and a beta of 0.59. Avalara has a 52 week low of $28.09 and a 52 week high of $94.31. The company’s 50-day moving average price is $82.40 and its 200 day moving average price is $69.89.

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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