KeyBanc analyst Brent Bracelin maintained a Hold rating on Avalara Inc (NYSE: AVLR) yesterday. The company’s shares closed yesterday at $45.97.
Bracelin noted:
“We believe AVLR is well positioned to benefit from an increasing desire to automate tax compliance; this includes the recent SCOTUS ruling, which is driving increased inbound interest that could take time to meaningfully materialize on revenue. That said, we believe optimism is largely reflected at current levels and remain SW.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 22.5% and a 76.6% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
Avalara Inc has an analyst consensus of Hold, with a price target consensus of $47.
See today’s analyst top recommended stocks >>
The company has a one-year high of $59.40 and a one-year low of $35. Currently, Avalara Inc has an average volume of 904.8K.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AVLR in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Avalara, Inc. provides cloud-based software services. It offers Avalara returns excise pro simplifies fuel tax compliance, enabling small and medium sized suppliers, distributors and terminal operators to reduce filing time and costs; Avalara avatax, the sales tax decision automation, instantaneously and accurately calculates tax; Avalara certcapture creates, validates and stores sales tax exemption certificates and reseller certificates in the cloud, limiting audit exposure; Avalara government automates end-to-end motor fuels tax filing processes for state tax authorities, growing tax revenue and eliminating labor-intensive activities; and Avalara mylodge tax is a automated solution for vacation rental homeowners seeking tax compliance for their vacation home rentals. The company was founded by Rory Rawlings, Scott McFarlane and Jared R. Vogt in 2004 and is headquartered in Seattle, WA.
