Avalara (NYSE:AVLR) Price Target Cut to $95.00 by Analysts at Raymond James

Avalara (NYSE:AVLR) had its target price cut by Raymond James from $100.00 to $95.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. They currently have an outperform rating on the stock.

A number of other research firms have also issued reports on AVLR. KeyCorp set a $101.00 price objective on Avalara and gave the company a buy rating in a research note on Sunday, September 15th. Stifel Nicolaus upgraded Avalara from a hold rating to a buy rating and boosted their price objective for the company from $52.00 to $100.00 in a research note on Thursday, August 8th. Stephens set a $105.00 price objective on Avalara and gave the company a buy rating in a research note on Tuesday, September 24th. Piper Jaffray Companies started coverage on Avalara in a research note on Monday, October 28th. They set an overweight rating and a $93.00 price objective on the stock. Finally, First Analysis started coverage on Avalara in a research note on Friday, July 26th. They set a strong-buy rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Avalara presently has a consensus rating of Buy and a consensus price target of $85.60.

Shares of AVLR opened at $71.01 on Wednesday. The firm has a market cap of $5.28 billion, a PE ratio of -65.75 and a beta of 0.52. The stock’s fifty day moving average price is $71.26 and its two-hundred day moving average price is $74.25. Avalara has a 1 year low of $28.09 and a 1 year high of $94.31.

Avalara (NYSE:AVLR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.19. The firm had revenue of $98.50 million for the quarter, compared to analyst estimates of $93.13 million. Avalara had a negative return on equity of 19.02% and a negative net margin of 15.13%. The business’s revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share. On average, equities analysts forecast that Avalara will post -0.65 EPS for the current year.

In related news, Director Chelsea R. Stoner sold 14,287 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $87.20, for a total transaction of $1,245,826.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott M. Mcfarlane sold 12,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $74.03, for a total value of $888,360.00. Over the last 90 days, insiders have sold 905,521 shares of company stock valued at $76,660,837. 21.10% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Squar Milner Financial Services LLC grew its position in Avalara by 1,145.2% during the third quarter. Squar Milner Financial Services LLC now owns 386 shares of the company’s stock worth $25,000 after buying an additional 355 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Avalara in the 2nd quarter worth about $36,000. Parallel Advisors LLC purchased a new position in shares of Avalara in the 3rd quarter worth about $49,000. First Bank & Trust purchased a new position in shares of Avalara in the 3rd quarter worth about $65,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Avalara by 47.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 971 shares of the company’s stock worth $71,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 78.49% of the company’s stock.

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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Analyst Recommendations for Avalara (NYSE:AVLR)

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