Mizuho Boosts Avalara (NYSE:AVLR) Price Target to $105.00

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Avalara (NYSE:AVLR) had its price objective boosted by investment analysts at Mizuho from $95.00 to $105.00 in a research note issued to investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the stock. Mizuho’s target price points to a potential upside of 13.55% from the company’s current price.

A number of other equities research analysts have also recently issued reports on AVLR. ValuEngine cut shares of Avalara from a “hold” rating to a “sell” rating in a research report on Thursday, December 12th. Zacks Investment Research raised shares of Avalara from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Piper Jaffray Companies started coverage on shares of Avalara in a research report on Monday, October 28th. They set an “overweight” rating and a $93.00 price objective for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $90.34.

Shares of Avalara stock opened at $92.47 on Thursday. The firm has a 50-day moving average of $83.86 and a 200-day moving average of $78.13. Avalara has a 52-week low of $47.75 and a 52-week high of $96.96.

Avalara (NYSE:AVLR) last announced its earnings results on Wednesday, February 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. The company had revenue of $107.63 million during the quarter, compared to analysts’ expectations of $100.09 million. Avalara had a negative net margin of 12.31% and a negative return on equity of 11.05%. Avalara’s quarterly revenue was up 39.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) earnings per share. As a group, analysts anticipate that Avalara will post -0.71 earnings per share for the current year.

In related news, CAO Daniel E. Manning sold 406 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $76.35, for a total transaction of $30,998.10. Following the completion of the sale, the chief accounting officer now owns 7,012 shares of the company’s stock, valued at $535,366.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Ingram sold 25,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $71.35, for a total value of $1,783,750.00. Following the transaction, the insider now directly owns 25,979 shares of the company’s stock, valued at approximately $1,853,601.65. The disclosure for this sale can be found here. Insiders have sold 97,109 shares of company stock valued at $7,742,934 in the last ninety days. 21.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its stake in Avalara by 724.4% during the fourth quarter. Meeder Asset Management Inc. now owns 371 shares of the company’s stock worth $28,000 after acquiring an additional 326 shares in the last quarter. Squar Milner Financial Services LLC raised its stake 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 acquiring an additional 355 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Avalara during the fourth quarter worth about $51,000. Parallel Advisors LLC acquired a new position in Avalara during the third quarter worth about $49,000. Finally, First Bank & Trust acquired a new position in Avalara during the third quarter worth about $65,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Avalara (NYSE:AVLR)

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