Brokerages predict that Avalara Inc (NYSE:AVLR) will post earnings of ($0.19) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Avalara’s earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.20). The business is expected to issue its next earnings report on Wednesday, February 6th.
On average, analysts expect that Avalara will report full-year earnings of ($0.71) per share for the current year, with EPS estimates ranging from ($0.72) to ($0.69). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.46) per share, with EPS estimates ranging from ($0.57) to ($0.37). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Avalara.
Avalara (NYSE:AVLR) last announced its quarterly earnings data on Wednesday, November 7th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). The business had revenue of $69.50 million for the quarter, compared to analyst estimates of $66.27 million. The business’s revenue was up 25.7% on a year-over-year basis.
A number of equities research analysts have weighed in on AVLR shares. Goldman Sachs Group upped their price objective on shares of Avalara to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Avalara from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, October 3rd. Bank of America cut their price target on shares of Avalara from $50.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, November 9th. KeyCorp reiterated a “buy” rating and set a $47.00 price target on shares of Avalara in a report on Sunday, October 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Avalara to $38.00 and gave the company a “neutral” rating in a report on Thursday, November 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.14.
Several large investors have recently bought and sold shares of AVLR. Warburg Pincus LLC purchased a new stake in shares of Avalara during the second quarter valued at approximately $745,045,000. Whale Rock Capital Management LLC purchased a new stake in shares of Avalara during the second quarter valued at approximately $64,341,000. EastBay Asset Management LLC purchased a new stake in shares of Avalara during the third quarter valued at approximately $21,048,000. BlackRock Inc. grew its holdings in shares of Avalara by 108.3% during the third quarter. BlackRock Inc. now owns 1,006,101 shares of the company’s stock valued at $35,142,000 after buying an additional 523,098 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Avalara by 78.8% during the third quarter. Vanguard Group Inc. now owns 780,392 shares of the company’s stock valued at $27,259,000 after buying an additional 343,950 shares during the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.
AVLR traded down $0.18 during midday trading on Friday, reaching $29.82. The company’s stock had a trading volume of 279,048 shares, compared to its average volume of 245,620. Avalara has a 1 year low of $28.09 and a 1 year high of $59.40.
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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