Analysts Expect Avalara Inc (AVLR) Will Announce Quarterly Sales of $84.62 Million

Equities analysts predict that Avalara Inc (NYSE:AVLR) will post sales of $84.62 million for the current quarter, according to Zacks. Three analysts have made estimates for Avalara’s earnings, with the highest sales estimate coming in at $85.00 million and the lowest estimate coming in at $84.35 million. Avalara posted sales of $63.71 million in the same quarter last year, which suggests a positive year over year growth rate of 32.8%. The firm is expected to issue its next earnings report on Thursday, August 8th.

On average, analysts expect that Avalara will report full year sales of $348.11 million for the current financial year, with estimates ranging from $347.63 million to $348.50 million. For the next year, analysts anticipate that the firm will post sales of $426.77 million, with estimates ranging from $418.49 million to $434.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Avalara.

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

AVLR has been the topic of a number of research reports. Goldman Sachs Group restated a “buy” rating and issued a $50.00 price objective on shares of Avalara in a report on Friday, February 1st. KeyCorp restated an “overweight” rating and issued a $54.00 price objective (up from $48.00) on shares of Avalara in a report on Tuesday, February 12th. JPMorgan Chase & Co. raised their price objective on Avalara from $38.00 to $64.00 and gave the stock a “positive” rating in a report on Wednesday, February 13th. JMP Securities raised their price objective on Avalara from $40.00 to $49.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 13th. Finally, Zacks Investment Research downgraded Avalara from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Avalara presently has a consensus rating of “Buy” and a consensus price target of $63.38.

In related news, major shareholder Pincus & Co. Warburg sold 4,700,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $49.03, for a total transaction of $230,441,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward A. Gilhuly sold 4,255,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $47.84, for a total value of $203,559,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,255,449 shares of company stock worth $500,741,881.

Several large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in shares of Avalara by 1,468.7% in the third quarter. Wells Fargo & Company MN now owns 4,706 shares of the company’s stock worth $164,000 after buying an additional 4,406 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Avalara in the third quarter worth $748,000. MetLife Investment Advisors LLC purchased a new position in shares of Avalara in the third quarter worth $359,000. Teachers Advisors LLC purchased a new position in shares of Avalara in the third quarter worth $565,000. Finally, TIAA CREF Investment Management LLC purchased a new position in shares of Avalara in the third quarter worth $618,000. Institutional investors and hedge funds own 73.09% of the company’s stock.

Avalara stock opened at $71.25 on Monday. The stock has a market capitalization of $4.98 billion and a PE ratio of -65.97. Avalara has a 12 month low of $28.09 and a 12 month high of $74.90.

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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