Avalara (NYSE:AVLR) has been given a $101.00 price objective by equities research analysts at KeyCorp in a research report issued on Sunday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. KeyCorp’s price target would indicate a potential upside of 34.79% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus raised shares of Avalara from a “hold” rating to a “buy” rating and raised their target price for the stock from $52.00 to $100.00 in a report on Thursday, August 8th. Canaccord Genuity assumed coverage on shares of Avalara in a report on Monday, August 26th. They issued a “buy” rating and a $100.00 target price on the stock. First Analysis assumed coverage on shares of Avalara in a report on Friday, July 26th. They issued a “strong-buy” rating on the stock. Bank of America reissued a “buy” rating and issued a $100.00 target price (up previously from $98.00) on shares of Avalara in a report on Thursday, August 8th. Finally, Zacks Investment Research cut shares of Avalara from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.37.

NYSE AVLR traded up $2.13 during trading hours on Friday, reaching $74.93. The company’s stock had a trading volume of 35,877 shares, compared to its average volume of 1,137,896. The business has a 50-day simple moving average of $82.64 and a 200 day simple moving average of $69.78. Avalara has a 52 week low of $28.09 and a 52 week high of $94.31. The stock has a market cap of $5.50 billion, a PE ratio of -69.38 and a beta of 0.59.

Avalara (NYSE:AVLR) last issued its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.08. Avalara had a negative net margin of 20.13% and a negative return on equity of 23.05%. The firm had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $84.63 million. During the same quarter last year, the company posted ($0.19) earnings per share. Avalara’s revenue was up 42.9% on a year-over-year basis. As a group, sell-side analysts forecast that Avalara will post -0.65 EPS for the current fiscal year.

In other Avalara news, insider Scott M. Mcfarlane sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $81.95, for a total value of $983,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alesia Lee Pinney sold 2,265 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $79.26, for a total transaction of $179,523.90. The disclosure for this sale can be found here. Insiders sold 910,047 shares of company stock worth $77,111,828 in the last 90 days. 21.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AVLR. Bank of America Corp DE increased its stake in shares of Avalara by 46.1% during the fourth quarter. Bank of America Corp DE now owns 13,841 shares of the company’s stock valued at $431,000 after acquiring an additional 4,365 shares during the period. Rhumbline Advisers increased its stake in shares of Avalara by 189.6% during the first quarter. Rhumbline Advisers now owns 36,187 shares of the company’s stock valued at $2,019,000 after acquiring an additional 23,692 shares during the period. American International Group Inc. increased its stake in shares of Avalara by 208.0% during the first quarter. American International Group Inc. now owns 17,656 shares of the company’s stock valued at $985,000 after acquiring an additional 11,924 shares during the period. New York State Common Retirement Fund increased its stake in shares of Avalara by 324.3% during the first quarter. New York State Common Retirement Fund now owns 41,159 shares of the company’s stock valued at $2,296,000 after acquiring an additional 31,459 shares during the period. Finally, US Bancorp DE increased its stake in shares of Avalara by 16,646.7% during the first quarter. US Bancorp DE now owns 186,558 shares of the company’s stock valued at $10,408,000 after acquiring an additional 185,444 shares during the period. Institutional investors and hedge funds own 78.50% of the company’s stock.

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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