Avalara (NYSE:AVLR) PT Lowered to $100.00

Avalara (NYSE:AVLRGet Rating) had its target price lowered by Canaccord Genuity Group from $140.00 to $100.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 34.88% from the stock’s previous close.

AVLR has been the topic of a number of other research reports. Stifel Nicolaus decreased their target price on shares of Avalara from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, March 21st. BMO Capital Markets lifted their target price on shares of Avalara from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, February 11th. TheStreet cut shares of Avalara from a “c-” rating to a “d+” rating in a research report on Friday, January 7th. Piper Sandler cut their price target on shares of Avalara from $215.00 to $200.00 in a report on Monday, January 10th. Finally, Morgan Stanley cut their target price on shares of Avalara from $216.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 24th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $150.81.

Shares of Avalara stock traded up $4.16 on Friday, hitting $74.14. 56,756 shares of the company traded hands, compared to its average volume of 827,703. The firm’s 50-day simple moving average is $91.08 and its 200 day simple moving average is $118.21. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.94. The company has a market cap of $6.51 billion, a P/E ratio of -51.47 and a beta of 0.94. Avalara has a 12-month low of $69.14 and a 12-month high of $191.67.

Avalara (NYSE:AVLRGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.20. The firm had revenue of $204.53 million for the quarter, compared to analysts’ expectations of $198.07 million. Avalara had a negative net margin of 17.92% and a negative return on equity of 9.53%. The business’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.30) EPS. Analysts predict that Avalara will post -1.32 earnings per share for the current year.

In related news, insider Scott M. Mcfarlane sold 20,000 shares of Avalara stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $92.97, for a total value of $1,859,400.00. Following the completion of the transaction, the insider now owns 586,104 shares in the company, valued at $54,490,088.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ross Tennenbaum sold 1,436 shares of Avalara stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $75.74, for a total value of $108,762.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,687 shares of company stock valued at $4,605,674. 21.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVLR. FMR LLC lifted its stake in Avalara by 128.3% in the first quarter. FMR LLC now owns 404,634 shares of the company’s stock worth $22,575,000 after purchasing an additional 227,359 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Avalara during the first quarter valued at approximately $3,424,000. Commonwealth Equity Services LLC raised its stake in shares of Avalara by 8.9% during the third quarter. Commonwealth Equity Services LLC now owns 4,798 shares of the company’s stock valued at $838,000 after acquiring an additional 393 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Avalara by 0.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 10,260 shares of the company’s stock valued at $1,793,000 after acquiring an additional 58 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Avalara by 3.1% during the third quarter. Truist Financial Corp now owns 33,273 shares of the company’s stock valued at $5,815,000 after acquiring an additional 1,003 shares in the last quarter. 92.20% of the stock is owned by institutional investors and hedge funds.

About Avalara (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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