$64.98 Million in Sales Expected for Avalara Inc (AVLR) This Quarter

Wall Street brokerages forecast that Avalara Inc (NYSE:AVLR) will post $64.98 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Avalara’s earnings, with estimates ranging from $62.40 million to $66.35 million. The company is scheduled to report its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Avalara will report full year sales of $255.38 million for the current year, with estimates ranging from $244.90 million to $260.74 million. For the next year, analysts expect that the firm will report sales of $303.25 million per share, with estimates ranging from $292.50 million to $311.01 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Avalara.

Avalara (NYSE:AVLR) last issued its earnings results on Thursday, August 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $61.47 million. Avalara’s quarterly revenue was up 25.1% on a year-over-year basis.

A number of brokerages have issued reports on AVLR. Bank of America began coverage on shares of Avalara in a research note on Tuesday, July 10th. They set a “neutral” rating and a $55.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Avalara in a research note on Tuesday, July 10th. They set a “neutral” rating and a $50.00 target price for the company. JMP Securities began coverage on shares of Avalara in a research note on Tuesday, July 10th. They set a “market perform” rating for the company. Stifel Nicolaus began coverage on shares of Avalara in a research note on Tuesday, July 10th. They set a “hold” rating and a $44.00 target price for the company. Finally, KeyCorp began coverage on shares of Avalara in a research note on Tuesday, July 10th. They set a “sector weight” rating for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $48.25.

Shares of NYSE:AVLR traded up $0.39 during trading on Friday, reaching $41.22. 189,300 shares of the company traded hands, compared to its average volume of 624,314. Avalara has a 1-year low of $32.10 and a 1-year high of $59.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.41 and a quick ratio of 1.41.

Large investors have recently modified their holdings of the business. First Mercantile Trust Co. bought a new position in shares of Avalara during the 2nd quarter valued at $101,000. Point72 Hong Kong Ltd bought a new position in shares of Avalara during the 2nd quarter valued at $214,000. Wolverine Asset Management LLC bought a new position in shares of Avalara during the 2nd quarter valued at $278,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Avalara during the 2nd quarter valued at $472,000. Finally, Sylebra HK Co Ltd bought a new position in shares of Avalara during the 2nd quarter valued at $534,000. 68.40% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Avalara (NYSE:AVLR)

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