Zacks: Brokerages Anticipate Avalara Inc (NYSE:AVLR) to Post -$0.11 Earnings Per Share

Analysts predict that Avalara Inc (NYSE:AVLR) will report earnings per share of ($0.11) for the current quarter, Zacks reports. Three analysts have made estimates for Avalara’s earnings. The highest EPS estimate is ($0.09) and the lowest is ($0.13). Avalara posted earnings of ($0.19) per share in the same quarter last year, which would suggest a positive year over year growth rate of 42.1%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, August 7th.

On average, analysts expect that Avalara will report full year earnings of ($0.18) per share for the current fiscal year, with EPS estimates ranging from ($0.22) to ($0.11). For the next fiscal year, analysts forecast that the firm will post earnings of $0.10 per share, with EPS estimates ranging from $0.01 to $0.30. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Avalara.

Avalara (NYSE:AVLR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.15. Avalara had a negative net margin of 23.56% and a negative return on equity of 32.45%. The business had revenue of $85.00 million during the quarter, compared to analysts’ expectations of $78.67 million. The firm’s revenue was up 38.4% on a year-over-year basis.

AVLR has been the subject of several research reports. Stephens restated a “hold” rating and set a $31.00 price objective on shares of CBTX in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price (down from $45.00) on shares of Synaptics in a report on Friday, May 10th. JMP Securities lifted their target price on shares of Pegasystems from $72.00 to $81.00 and gave the company a “market outperform” rating in a report on Wednesday, May 8th. First Analysis began coverage on shares of Avalara in a report on Friday, July 26th. They set a “strong-buy” rating for the company. Finally, KeyCorp reaffirmed a “buy” rating and set a $65.00 target price on shares of Talend in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $72.38.

In other news, insider William Ingram sold 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $71.29, for a total transaction of $1,782,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott M. Mcfarlane sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $81.95, for a total transaction of $983,400.00. The disclosure for this sale can be found here. Insiders have sold 8,927,207 shares of company stock valued at $622,339,333 in the last ninety days. Insiders own 21.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY boosted its position in shares of Avalara by 209.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock valued at $100,000 after acquiring an additional 2,180 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Avalara by 7,090.1% in the first quarter. Janus Henderson Group PLC now owns 1,588,160 shares of the company’s stock valued at $88,603,000 after acquiring an additional 1,566,072 shares during the period. Marshall Wace LLP acquired a new stake in shares of Avalara during the first quarter worth $2,232,000. Coronation Fund Managers Ltd. acquired a new stake in Avalara in the first quarter valued at $4,356,000. Finally, Northern Trust Corp lifted its holdings in Avalara by 2.5% in the fourth quarter. Northern Trust Corp now owns 96,878 shares of the company’s stock valued at $3,017,000 after acquiring an additional 2,388 shares during the period. 78.35% of the stock is currently owned by hedge funds and other institutional investors.

NYSE AVLR traded down $0.31 on Friday, hitting $82.85. 5,774 shares of the company’s stock traded hands, compared to its average volume of 729,723. Avalara has a 1-year low of $28.09 and a 1-year high of $87.07. The stock’s 50-day moving average price is $77.42. The firm has a market cap of $5.78 billion and a price-to-earnings ratio of -76.73.

About Avalara

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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