Avalara (AVLR) Receives a Rating Update from a Top Analyst

In a report released yesterday, Brian Peterson from Raymond James reiterated a Buy rating on Avalara (AVLR). The company’s shares closed last Thursday at $131.36.

According to TipRanks.com, Peterson is a top 100 analyst with an average return of 30.6% and a 68.2% success rate. Peterson covers the Technology sector, focusing on stocks such as Qualtrics International, Duck Creek Technologies, and ZoomInfo Technologies.

Avalara has an analyst consensus of Strong Buy, with a price target consensus of $182.00, representing a 38.7% upside. In a report issued on May 18, Needham also maintained a Buy rating on the stock with a $210.00 price target.

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Avalara’s market cap is currently $11.29B and has a P/E ratio of -175.60. The company has a Price to Book ratio of 23.57.

Based on the recent corporate insider activity of 84 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.

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.

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