Avalara (AVLR) Set to Announce Quarterly Earnings on Monday

Avalara (NYSE:AVLRGet Rating) is set to announce its earnings results after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Avalara (NYSE:AVLRGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.08. Avalara had a negative return on equity of 9.62% and a negative net margin of 17.04%. The business had revenue of $204.53 million for the quarter, compared to analysts’ expectations of $198.07 million. During the same period last year, the business earned ($0.30) EPS. The business’s revenue was up 33.2% on a year-over-year basis. On average, analysts expect Avalara to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Avalara Price Performance

Shares of NYSE:AVLR opened at $95.55 on Friday. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $82.24 and its two-hundred day simple moving average is $88.73. Avalara has a 1-year low of $66.39 and a 1-year high of $191.67. The stock has a market cap of $8.40 billion, a PE ratio of -65.00 and a beta of 1.08.

Wall Street Analysts Forecast Growth

AVLR has been the topic of several recent analyst reports. Mizuho dropped their price objective on Avalara from $160.00 to $110.00 in a research note on Friday, May 6th. The Goldman Sachs Group lowered their target price on Avalara from $123.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, July 14th. Canaccord Genuity Group lowered their target price on Avalara from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 6th. Bank of America cut Avalara from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $100.00 in a research note on Monday, April 25th. Finally, Piper Sandler lowered their target price on Avalara from $135.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.29.

Insider Buying and Selling at Avalara

In other Avalara news, insider Scott M. Mcfarlane sold 20,000 shares of Avalara stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $85.07, for a total transaction of $1,701,400.00. Following the completion of the transaction, the insider now owns 584,892 shares of the company’s stock, valued at approximately $49,756,762.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 60,000 shares of company stock valued at $4,933,800 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Avalara

A number of large investors have recently modified their holdings of AVLR. PNC Financial Services Group Inc. lifted its position in Avalara by 9.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,974 shares of the company’s stock worth $1,091,000 after buying an additional 952 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Avalara in the 1st quarter worth approximately $458,000. MetLife Investment Management LLC bought a new stake in Avalara in the 1st quarter worth approximately $551,000. Panagora Asset Management Inc. lifted its position in Avalara by 36.0% in the 1st quarter. Panagora Asset Management Inc. now owns 5,005 shares of the company’s stock worth $498,000 after buying an additional 1,324 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Avalara by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 191,441 shares of the company’s stock worth $19,051,000 after buying an additional 15,139 shares during the last quarter. Institutional investors own 92.20% of the company’s stock.

About Avalara

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Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company 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.

See Also

Earnings History for Avalara (NYSE:AVLR)

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