In a report released today, Scott Berg from Needham maintained a Buy rating on Avalara Inc (AVLR), with a price target of $85. The company’s shares opened today at $71.97, close to its 52-week high of $74.90.
According to TipRanks.com, Berg is a 5-star analyst with an average return of 17.3% and a 67.1% success rate. Berg covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Medidata Solutions, and Upland Software.
Avalara Inc has an analyst consensus of Strong Buy, with a price target consensus of $67, representing a -6.9% downside. In a report issued on May 7, KeyBanc also maintained a Buy rating on the stock.
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Based on Avalara Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.24 million. In comparison, last year the company had a GAAP net loss of $15.25 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.
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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.
