In a report released today, Bradley Sills from Merrill Lynch reiterated a Buy rating on Avalara (AVLR), with a price target of $150.00. The company’s shares closed last Thursday at $126.60.
According to TipRanks.com, Sills is a 5-star analyst with an average return of 27.8% and a 74.7% success rate. Sills covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Bill.com Holdings, and Coupa Software.
Currently, the analyst consensus on Avalara is a Strong Buy with an average price target of $140.55, representing an 8.7% upside. In a report issued on August 4, Stephens also assigned a Buy rating to the stock with a $144.00 price target.
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Based on Avalara’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $111 million and GAAP net loss of $15.28 million. In comparison, last year the company earned revenue of $91.3 million and had a GAAP net loss of $14.24 million.
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVLR in relation to earlier this year.
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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.