Analysts Anticipate Avalara Inc (AVLR) Will Post Quarterly Sales of $64.98 Million

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Brokerages predict that Avalara Inc (NYSE:AVLR) will post $64.98 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Avalara’s earnings. The lowest sales estimate is $62.40 million and the highest is $66.35 million. The business is expected to issue its next earnings report on Thursday, November 8th.

On average, analysts expect that Avalara will report full year sales of $255.38 million for the current year, with estimates ranging from $244.90 million to $260.74 million. For the next fiscal year, analysts anticipate that the company will post sales of $303.25 million, with estimates ranging from $292.50 million to $311.01 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Avalara.

Avalara (NYSE:AVLR) last released its quarterly earnings results on Thursday, August 9th. The company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.04. The firm had revenue of $63.70 million during the quarter, compared to analyst estimates of $61.47 million. The business’s revenue was up 25.1% compared to the same quarter last year.

A number of research firms have commented on AVLR. JPMorgan Chase & Co. began coverage on shares of Avalara in a research report on Tuesday, July 10th. They issued a “neutral” rating and a $50.00 price target on the stock. JMP Securities began coverage on shares of Avalara in a research report on Tuesday, July 10th. They set a “market perform” rating on the stock. Stifel Nicolaus began coverage on shares of Avalara in a research report on Tuesday, July 10th. They set a “hold” rating and a $44.00 target price on the stock. Bank of America began coverage on shares of Avalara in a research report on Tuesday, July 10th. They set a “neutral” rating and a $55.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Avalara from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.60.

Hedge funds have recently made changes to their positions in the company. First Mercantile Trust Co. acquired a new position in shares of Avalara during the second quarter worth approximately $101,000. Point72 Hong Kong Ltd acquired a new position in shares of Avalara during the second quarter worth approximately $214,000. Wolverine Asset Management LLC acquired a new position in shares of Avalara during the second quarter worth approximately $278,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Avalara during the second quarter worth approximately $472,000. Finally, Sylebra HK Co Ltd acquired a new position in shares of Avalara during the second quarter worth approximately $534,000. Institutional investors own 68.40% of the company’s stock.

NYSE:AVLR traded up $2.40 on Friday, reaching $34.96. The stock had a trading volume of 389,673 shares, compared to its average volume of 586,205. Avalara has a 1-year low of $31.57 and a 1-year high of $59.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.41 and a current ratio of 1.41.

Avalara Company Profile

Avalara, Inc provides transaction tax compliance cloud-based solutions 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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