Analysts Anticipate Avalara, Inc. (NYSE:AVLR) Will Announce Quarterly Sales of $184.29 Million

Equities analysts expect Avalara, Inc. (NYSE:AVLR) to announce sales of $184.29 million for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Avalara’s earnings. The highest sales estimate is $185.00 million and the lowest is $183.10 million. Avalara reported sales of $144.76 million during the same quarter last year, which indicates a positive year over year growth rate of 27.3%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 9th.

According to Zacks, analysts expect that Avalara will report full year sales of $688.12 million for the current fiscal year, with estimates ranging from $687.00 million to $688.84 million. For the next financial year, analysts forecast that the business will post sales of $845.79 million, with estimates ranging from $834.03 million to $858.24 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Avalara.

Avalara (NYSE:AVLR) last released its earnings results on Thursday, November 4th. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. Avalara had a negative return on equity of 7.30% and a negative net margin of 15.60%. The company had revenue of $181.17 million for the quarter, compared to the consensus estimate of $170.34 million. During the same period in the previous year, the business earned ($0.13) earnings per share. Avalara’s quarterly revenue was up 41.7% compared to the same quarter last year.

Several research analysts have issued reports on AVLR shares. Mizuho restated a “buy” rating and set a $219.00 target price on shares of Avalara in a research report on Friday, November 5th. Piper Sandler cut their target price on Avalara from $215.00 to $200.00 in a research note on Monday. Zacks Investment Research raised Avalara from a “sell” rating to a “hold” rating in a report on Wednesday, September 22nd. TheStreet downgraded Avalara from a “c-” rating to a “d+” rating in a report on Friday, January 7th. Finally, JPMorgan Chase & Co. raised Avalara from a “neutral” rating to an “overweight” rating and set a $190.00 target price for the company in a report on Tuesday, December 14th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Avalara currently has an average rating of “Buy” and an average target price of $199.25.

Shares of AVLR stock traded up $0.18 during trading hours on Friday, hitting $109.43. The stock had a trading volume of 1,268,656 shares, compared to its average volume of 1,463,836. The stock’s 50-day moving average price is $137.50 and its two-hundred day moving average price is $160.44. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.34 and a quick ratio of 3.34. Avalara has a one year low of $104.14 and a one year high of $191.67. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of -93.53 and a beta of 0.72.

In other news, insider Ross Tennenbaum sold 904 shares of the company’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $156.73, for a total transaction of $141,683.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amit Mathradas sold 4,428 shares of the business’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $170.32, for a total value of $754,176.96. The disclosure for this sale can be found here. Insiders sold a total of 58,519 shares of company stock worth $8,547,198 in the last ninety days. 21.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AVLR. Liberty Wealth Management LLC raised its stake in shares of Avalara by 408.3% in the third quarter. Liberty Wealth Management LLC now owns 183 shares of the company’s stock valued at $30,000 after acquiring an additional 147 shares during the last quarter. Berman Capital Advisors LLC boosted its stake in shares of Avalara by 1,328.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 200 shares of the company’s stock worth $31,000 after acquiring an additional 186 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Avalara during the 3rd quarter worth approximately $35,000. Altshuler Shaham Ltd bought a new stake in Avalara in the 3rd quarter valued at $35,000. Finally, Koshinski Asset Management Inc. bought a new stake in Avalara in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

About Avalara

Avalara, Inc engages in the provision of cloud-based solutions. The firm focuses on taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. Its products include AvaTax excise, AvaTax communications, returns excise, trustfile, CertCapture, and avalara licensing.

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