Analysts’ Recent Ratings Updates for Avalara (AVLR)

A number of research firms have changed their ratings and price targets for Avalara (NYSE: AVLR):

  • 5/12/2022 – Avalara was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Avalara Inc. is a provider of cloud-based tax compliance solutions. It offers businesses of all sizes achieve compliance with transaction taxes including sales and use, VAT, excise, communications and other tax types. Avalara Inc. is based in Seattle, United States. “
  • 5/6/2022 – Avalara had its price target lowered by analysts at Canaccord Genuity Group Inc. from $140.00 to $100.00. They now have a “buy” rating on the stock.
  • 5/6/2022 – Avalara had its price target lowered by analysts at Mizuho from $160.00 to $110.00.
  • 4/25/2022 – Avalara was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $100.00 price target on the stock, down previously from $140.00.
  • 4/22/2022 – Avalara was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $95.00 price target on the stock. According to Zacks, “Avalara Inc. is a provider of cloud-based tax compliance solutions. It offers businesses of all sizes achieve compliance with transaction taxes including sales and use, VAT, excise, communications and other tax types. Avalara Inc. is based in Seattle, United States. “
  • 3/24/2022 – Avalara had its price target lowered by analysts at Morgan Stanley from $216.00 to $130.00. They now have an “overweight” rating on the stock.
  • 3/21/2022 – Avalara had its price target lowered by analysts at Stifel Nicolaus from $135.00 to $115.00. They now have a “buy” rating on the stock.

Shares of Avalara stock traded down $2.39 during trading on Monday, reaching $78.02. The company’s stock had a trading volume of 7,889 shares, compared to its average volume of 1,192,752. The business’s fifty day moving average price is $88.33 and its 200-day moving average price is $113.01. Avalara, Inc. has a one year low of $67.59 and a one year high of $191.67. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -53.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.13 and a current ratio of 3.15.

Avalara (NYSE:AVLRGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $204.53 million during the quarter, compared to analyst estimates of $198.07 million. Avalara had a negative return on equity of 9.62% and a negative net margin of 17.04%. The company’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) earnings per share. Sell-side analysts anticipate that Avalara, Inc. will post -1.33 EPS for the current year.

In other news, insider Scott M. Mcfarlane sold 6,425 shares of the stock in a transaction on Monday, March 7th. The stock was sold at an average price of $93.35, for a total transaction of $599,773.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott M. Mcfarlane sold 10,000 shares of Avalara stock in a transaction dated Thursday, March 3rd. The shares were 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. In the last 90 days, insiders sold 68,860 shares of company stock valued at $6,198,225. Corporate insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Avalara in the 4th quarter valued at $238,704,000. Echo Street Capital Management LLC boosted its holdings in Avalara by 65.0% in the first quarter. Echo Street Capital Management LLC now owns 1,996,875 shares of the company’s stock valued at $198,709,000 after acquiring an additional 786,996 shares during the last quarter. Riverbridge Partners LLC increased its position in Avalara by 95.5% in the first quarter. Riverbridge Partners LLC now owns 1,500,831 shares of the company’s stock worth $149,348,000 after purchasing an additional 733,168 shares during the period. Deccan Value Investors L.P. bought a new stake in Avalara during the 4th quarter worth about $85,617,000. Finally, Norges Bank acquired a new position in Avalara during the 4th quarter valued at about $82,900,000. 92.20% of the stock is owned by institutional investors.

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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