Avalara Inc (AVLR) Expected to Post Quarterly Sales of $64.98 Million

Share on StockTwits

Brokerages expect Avalara Inc (NYSE:AVLR) to announce $64.98 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Avalara’s earnings, with the lowest sales estimate coming in at $62.40 million and the highest estimate coming in at $66.35 million. The company is scheduled to announce its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Avalara will report full-year sales of $255.38 million for the current fiscal year, with estimates ranging from $244.90 million to $260.74 million. For the next financial year, analysts anticipate that the company will post sales of $303.25 million, with estimates ranging from $292.50 million to $311.01 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Avalara.

Avalara (NYSE:AVLR) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.04. The company had revenue of $63.70 million during the quarter, compared to the consensus estimate of $61.47 million. The company’s revenue was up 25.1% compared to the same quarter last year.

Several research analysts have recently issued reports on AVLR shares. KeyCorp started coverage on shares of Avalara in a report on Tuesday, July 10th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. started coverage on shares of Avalara in a report on Tuesday, July 10th. They issued a “neutral” rating and a $50.00 price objective for the company. Bank of America started coverage on shares of Avalara in a report on Tuesday, July 10th. They issued a “neutral” rating and a $55.00 price objective for the company. Stifel Nicolaus started coverage on shares of Avalara in a report on Tuesday, July 10th. They issued a “hold” rating and a $44.00 price objective for the company. Finally, JMP Securities started coverage on shares of Avalara in a report on Tuesday, July 10th. They issued a “market perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.60.

Shares of Avalara stock traded up $2.40 on Friday, hitting $34.96. The company had a trading volume of 389,673 shares, compared to its average volume of 586,205. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18. Avalara has a 52 week low of $31.57 and a 52 week high of $59.40.

A number of large investors have recently modified their holdings of AVLR. First Mercantile Trust Co. bought a new stake in Avalara during the second quarter worth approximately $101,000. TD Asset Management Inc. bought a new stake in Avalara during the second quarter worth approximately $547,000. Dean Capital Investments Management LLC bought a new stake in Avalara during the second quarter worth approximately $713,000. Pier Capital LLC bought a new stake in Avalara during the second quarter worth approximately $6,857,000. Finally, American Century Companies Inc. bought a new stake in Avalara during the second quarter worth approximately $2,669,000. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Avalara Company Profile

Avalara, Inc provides transaction tax compliance cloud-based solutions worldwide. It 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.

Recommended Story: What Factors Can Affect Return on Equity?

Get a free copy of the Zacks research report on Avalara (AVLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Avalara (NYSE:AVLR)

Receive News & Ratings for Avalara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avalara and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply