Zacks: Analysts Anticipate Avalara, Inc. (NYSE:AVLR) Will Announce Quarterly Sales of $197.96 Million

Analysts expect that Avalara, Inc. (NYSE:AVLRGet Rating) will announce $197.96 million in sales for the current fiscal quarter, according to Zacks. Fourteen analysts have provided estimates for Avalara’s earnings. The highest sales estimate is $199.00 million and the lowest is $197.10 million. Avalara reported sales of $153.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 28.9%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Avalara will report full year sales of $856.73 million for the current financial year, with estimates ranging from $848.90 million to $860.16 million. For the next fiscal year, analysts forecast that the company will report sales of $1.05 billion, with estimates ranging from $1.03 billion to $1.08 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Avalara.

Avalara (NYSE:AVLRGet Rating) last released its quarterly earnings results on Thursday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Avalara had a negative return on equity of 9.53% and a negative net margin of 17.92%. The firm had revenue of $195.10 million for the quarter, compared to analyst estimates of $184.37 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis.

A number of research analysts have commented on the company. Zacks Investment Research cut Avalara from a “hold” rating to a “sell” rating in a research note on Tuesday, February 15th. Citigroup assumed coverage on Avalara in a research note on Tuesday, February 1st. They set a “buy” rating and a $130.00 price target on the stock. Mizuho increased their price objective on Avalara from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 11th. Morgan Stanley reduced their price objective on Avalara from $216.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 24th. Finally, Canaccord Genuity Group reduced their price objective on Avalara from $205.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 14th. One analyst has rated the stock with a sell rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $164.86.

In other Avalara news, insider Ross Tennenbaum sold 1,580 shares of the firm’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $100.82, for a total transaction of $159,295.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott M. Mcfarlane sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $98.98, for a total value of $989,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,687 shares of company stock worth $4,605,674. 2.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC grew its holdings in shares of Avalara by 408.3% during the third quarter. Liberty Wealth Management LLC now owns 183 shares of the company’s stock worth $30,000 after buying an additional 147 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Avalara during the third quarter worth about $35,000. Tobam grew its holdings in shares of Avalara by 760.6% during the third quarter. Tobam now owns 284 shares of the company’s stock worth $50,000 after buying an additional 251 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Avalara during the fourth quarter worth about $39,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of Avalara during the fourth quarter worth about $39,000. 94.92% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:AVLR opened at $88.19 on Tuesday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The stock’s fifty day moving average is $96.62 and its two-hundred day moving average is $126.15. Avalara has a 52 week low of $74.28 and a 52 week high of $191.67. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -60.82 and a beta of 0.80.

Avalara Company Profile (Get Rating)

Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company 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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