Brokerages Anticipate Avalara, Inc. (NYSE:AVLR) Will Announce Quarterly Sales of $142.88 Million


Share on StockTwits

Wall Street brokerages expect that Avalara, Inc. (NYSE:AVLR) will report sales of $142.88 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Avalara’s earnings, with estimates ranging from $142.00 million to $144.00 million. Avalara posted sales of $111.44 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 28.2%. The firm is scheduled to report its next quarterly earnings report on Thursday, May 6th.

On average, analysts expect that Avalara will report full-year sales of $630.82 million for the current year, with estimates ranging from $627.90 million to $632.69 million. For the next fiscal year, analysts expect that the company will post sales of $771.62 million, with estimates ranging from $755.88 million to $787.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Avalara.

Avalara (NYSE:AVLR) last posted its quarterly earnings results on Wednesday, February 10th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.15. Avalara had a negative return on equity of 6.97% and a negative net margin of 10.89%. The business had revenue of $144.80 million for the quarter, compared to the consensus estimate of $133.37 million. During the same period in the prior year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was up 34.1% on a year-over-year basis.

AVLR has been the topic of several research analyst reports. Smith Barney Citigroup upped their price objective on Avalara from $167.00 to $203.00 in a research note on Monday, November 9th. Zacks Investment Research downgraded Avalara from a “buy” rating to a “hold” rating in a research note on Friday, January 29th. JMP Securities upped their price objective on Avalara from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. JPMorgan Chase & Co. downgraded Avalara from an “overweight” rating to a “neutral” rating and set a $195.00 price objective on the stock. in a research note on Wednesday, December 9th. Finally, Stephens restated a “buy” rating and set a $177.00 target price on shares of Avalara in a research report on Friday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Avalara currently has a consensus rating of “Buy” and a consensus price target of $190.40.

Shares of AVLR stock traded down $4.10 during trading on Thursday, hitting $162.50. The company’s stock had a trading volume of 10,460 shares, compared to its average volume of 738,820. Avalara has a 52 week low of $55.50 and a 52 week high of $185.37. The business has a fifty day moving average of $164.04 and a 200-day moving average of $151.42. The company has a market cap of $13.74 billion, a PE ratio of -260.31 and a beta of 0.73.

In related news, Director Marion R. Foote sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $171.50, for a total transaction of $1,715,000.00. Following the completion of the transaction, the director now owns 503,496 shares in the company, valued at $86,349,564. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Daniel E. Manning sold 381 shares of the company’s stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $157.01, for a total value of $59,820.81. Following the transaction, the chief accounting officer now owns 10,676 shares of the company’s stock, valued at approximately $1,676,238.76. The disclosure for this sale can be found here. Insiders sold 177,361 shares of company stock valued at $29,492,106 in the last quarter. Corporate insiders own 4.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC raised its holdings in shares of Avalara by 43.6% during the fourth quarter. CWA Asset Management Group LLC now owns 10,696 shares of the company’s stock valued at $1,764,000 after acquiring an additional 3,245 shares in the last quarter. Rehmann Capital Advisory Group bought a new position in shares of Avalara during the fourth quarter valued at approximately $230,000. Verition Fund Management LLC raised its holdings in shares of Avalara by 39.7% during the fourth quarter. Verition Fund Management LLC now owns 4,327 shares of the company’s stock valued at $713,000 after acquiring an additional 1,229 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in Avalara by 9.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,160 shares of the company’s stock worth $1,510,000 after purchasing an additional 825 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in Avalara in the fourth quarter worth $2,884,000. Institutional investors own 88.55% of the company’s stock.

Avalara Company Profile

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.

Recommended Story: Terms to Better Understand Call Options

Get a free copy of the Zacks research report on Avalara (AVLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Avalara (NYSE:AVLR)

Receive News & Ratings for Avalara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avalara and related companies with MarketBeat.com's FREE daily email newsletter.