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. The company's solutions include AvaTax, a solution for determining sales tax in the United States; Avalara Compliance Cloud Returns for tax return preparation, filing, and remittance; which creates, validates, stores, and manages sales tax exemption. It also provides professional services, including nexus studies and back filing services, voluntary compliance initiatives, tax registrations, reverse audits, audit defense, and specialized tax research. The company was formerly known as Advantage Solutions, Inc. and changed its name to Avalara, Inc. in December 2005. Avalara, Inc. was incorporated in 1999 and is headquartered in Seattle, Washington.
Avalara Price Performance
Shares of NYSE:AVLR opened at $92.25 on Friday. Avalara has a 52 week low of $66.39 and a 52 week high of $191.67. The company has a 50-day moving average price of $82.77 and a 200 day moving average price of $88.37. The company has a market cap of $8.11 billion, a P/E ratio of -51.83 and a beta of 1.08. The company has a quick ratio of 3.15, a current ratio of 3.18 and a debt-to-equity ratio of 0.94.
Avalara (NYSE:AVLR - Get Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.06. Avalara had a negative return on equity of 12.44% and a negative net margin of 19.76%. The business had revenue of $208.60 million during the quarter, compared to analysts' expectations of $209.19 million. During the same period last year, the firm earned ($0.25) EPS. The company's quarterly revenue was up 23.4% compared to the same quarter last year. Research analysts predict that Avalara will post -1.38 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have issued reports on AVLR. The Goldman Sachs Group dropped their price objective on Avalara from $123.00 to $109.00 and set a "buy" rating on the stock in a report on Thursday, July 14th. BMO Capital Markets cut Avalara from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Canaccord Genuity Group decreased their price objective on Avalara from $140.00 to $100.00 and set a "buy" rating for the company in a report on Friday, May 6th. Berenberg Bank cut shares of Avalara from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, Mizuho cut shares of Avalara to a "neutral" rating and set a $93.50 price target for the company. in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Avalara presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.08.
Insider Buying and Selling at Avalara
In other news, insider Scott M. Mcfarlane sold 20,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $91.82, for a total value of $1,836,400.00. Following the completion of the transaction, the insider now owns 583,644 shares in the company, valued at approximately $53,590,192.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 60,000 shares of company stock valued at $5,170,200. 2.40% of the stock is owned by company insiders.