Avalara (NYSE:AVLR) had its price target hoisted by Raymond James from $95.00 to $105.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also weighed in on AVLR. Mizuho upped their target price on shares of Avalara from $95.00 to $105.00 and gave the stock a buy rating in a report on Thursday. Zacks Investment Research raised shares of Avalara from a sell rating to a hold rating in a research report on Tuesday, February 4th. ValuEngine downgraded shares of Avalara from a hold rating to a sell rating in a research report on Thursday, December 12th. Finally, Piper Jaffray Companies assumed coverage on shares of Avalara in a research report on Monday, October 28th. They issued an overweight rating and a $93.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Avalara presently has an average rating of Buy and an average target price of $90.34.

Shares of AVLR traded up $1.22 on Thursday, reaching $92.47. The company’s stock had a trading volume of 1,017,415 shares, compared to its average volume of 740,958. Avalara has a twelve month low of $47.75 and a twelve month high of $96.96. The stock has a market capitalization of $7.06 billion, a PE ratio of -121.67 and a beta of 0.46. The firm has a fifty day moving average of $83.49 and a 200-day moving average of $78.10.

Avalara (NYSE:AVLR) last posted its earnings results on Wednesday, February 12th. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.05. Avalara had a negative net margin of 15.13% and a negative return on equity of 15.51%. The company had revenue of $107.63 million for the quarter, compared to analyst estimates of $100.09 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The firm’s revenue was up 39.9% compared to the same quarter last year. Equities research analysts forecast that Avalara will post -0.64 EPS for the current fiscal year.

In other news, CAO Daniel E. Manning sold 406 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $76.35, for a total transaction of $30,998.10. Following the completion of the transaction, the chief accounting officer now directly owns 7,012 shares of the company’s stock, valued at approximately $535,366.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott M. Mcfarlane sold 15,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $89.50, for a total transaction of $1,342,500.00. The disclosure for this sale can be found here. Insiders sold a total of 97,109 shares of company stock valued at $7,742,934 over the last ninety days. 21.10% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of Avalara by 724.4% during the 4th quarter. Meeder Asset Management Inc. now owns 371 shares of the company’s stock valued at $28,000 after acquiring an additional 326 shares during the period. Squar Milner Financial Services LLC grew its position in shares of Avalara by 1,145.2% during the 3rd quarter. Squar Milner Financial Services LLC now owns 386 shares of the company’s stock valued at $25,000 after acquiring an additional 355 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Avalara during the 4th quarter valued at approximately $51,000. Parallel Advisors LLC bought a new position in shares of Avalara during the 3rd quarter valued at approximately $49,000. Finally, First Bank & Trust bought a new position in shares of Avalara during the 3rd quarter valued at approximately $65,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

About Avalara

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

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Analyst Recommendations for Avalara (NYSE:AVLR)

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