Avalara (NYSE:AVLR) Issues Quarterly Earnings Results

Avalara (NYSE:AVLRGet Rating) announced its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.20, MarketWatch Earnings reports. The company 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 firm’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) EPS.

NYSE:AVLR traded up $8.44 on Friday, reaching $78.42. 5,239,937 shares of the company’s stock were exchanged, compared to its average volume of 842,062. 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 firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -53.35 and a beta of 0.94. The business has a fifty day moving average of $90.57 and a 200-day moving average of $117.52. Avalara has a 52-week low of $67.59 and a 52-week high of $191.67.

Several brokerages have recently weighed in on AVLR. Citigroup began coverage on shares of Avalara in a research report on Tuesday, February 1st. They set a “buy” rating and a $130.00 price target on the stock. Morgan Stanley lowered their price target on shares of Avalara from $216.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 24th. Stifel Nicolaus lowered their price target 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 boosted their price target on shares of Avalara from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, February 11th. Finally, Raymond James lowered their price target on shares of Avalara from $220.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, February 11th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $150.81.

In related news, insider Scott M. Mcfarlane sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $92.97, for a total transaction of $1,859,400.00. Following the sale, the insider now directly owns 586,104 shares in the company, valued at $54,490,088.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ross Tennenbaum sold 1,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $100.82, for a total transaction of $159,295.60. The disclosure for this sale can be found here. Insiders have sold 48,687 shares of company stock worth $4,605,674 over the last quarter. Insiders own 21.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its stake in Avalara by 10.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 197,692 shares of the company’s stock valued at $25,524,000 after purchasing an additional 19,441 shares during the last quarter. Deutsche Bank AG increased its stake in Avalara by 5.0% in the fourth quarter. Deutsche Bank AG now owns 326,535 shares of the company’s stock valued at $42,159,000 after purchasing an additional 15,415 shares during the last quarter. Comerica Bank increased its stake in Avalara by 16.4% in the fourth quarter. Comerica Bank now owns 63,667 shares of the company’s stock valued at $6,335,000 after purchasing an additional 8,969 shares during the last quarter. Barclays PLC increased its stake in Avalara by 3.0% in the fourth quarter. Barclays PLC now owns 192,856 shares of the company’s stock valued at $24,900,000 after purchasing an additional 5,624 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new position in Avalara in the fourth quarter valued at approximately $385,000. Hedge funds and other institutional investors own 92.20% of the company’s stock.

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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Earnings History for Avalara (NYSE:AVLR)

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