Avalara (NYSE:AVLR) Given New $105.00 Price Target at Raymond James

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Avalara (NYSE:AVLR) had its target price boosted by equities researchers at Raymond James from $95.00 to $105.00 in a research note issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 13.55% from the company’s current price.

Several other research firms also recently issued reports on AVLR. Zacks Investment Research raised Avalara from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. ValuEngine downgraded Avalara from a “hold” rating to a “sell” rating in a research note on Thursday, December 12th. Mizuho upped their price objective on Avalara from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Piper Jaffray Companies assumed coverage on Avalara in a research note on Monday, October 28th. They issued an “overweight” rating and a $93.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.34.

Avalara stock opened at $92.47 on Thursday. The business has a 50 day moving average of $83.86 and a 200-day moving average of $78.13. Avalara has a 1 year low of $47.75 and a 1 year high of $96.96.

Avalara (NYSE:AVLR) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. Avalara had a negative return on equity of 11.05% and a negative net margin of 12.31%. The company had revenue of $107.63 million during the quarter, compared to the consensus estimate of $100.09 million. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. The firm’s revenue was up 39.9% compared to the same quarter last year. On average, sell-side analysts predict that Avalara will post -0.71 EPS for the current fiscal year.

In other Avalara news, insider Scott M. Mcfarlane sold 15,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $89.50, for a total transaction of $1,342,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott M. Mcfarlane sold 12,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $72.78, for a total transaction of $873,360.00. Following the sale, the insider now directly owns 763,286 shares of the company’s stock, valued at approximately $55,551,955.08. The disclosure for this sale can be found here. Insiders have sold a total of 97,109 shares of company stock valued at $7,742,934 in the last three months. Insiders own 21.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its position in shares of Avalara by 724.4% during the 4th quarter. Meeder Asset Management Inc. now owns 371 shares of the company’s stock worth $28,000 after buying an additional 326 shares during the period. Squar Milner Financial Services LLC grew its position in shares of Avalara by 1,145.2% during the 3rd quarter. Squar Milner Financial Services LLC now owns 386 shares of the company’s stock worth $25,000 after buying an additional 355 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Avalara during the 4th quarter worth approximately $51,000. Parallel Advisors LLC acquired a new stake in shares of Avalara during the 3rd quarter worth approximately $49,000. Finally, First Bank & Trust acquired a new stake in shares of Avalara during the 3rd quarter worth approximately $65,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Avalara Company Profile

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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