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Avalara (AVLR) was downgraded to a Hold Rating at Needham

Avalara (AVLRResearch Report) received a Hold rating and price target from Needham analyst Scott Berg today. The company’s shares opened today at $92.00.

Berg covers the Technology sector, focusing on stocks such as Avalara, Cvent Holding, and PROS Holdings. According to TipRanks, Berg has an average return of 8.9% and a 49.52% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avalara with a $104.70 average price target, representing a 13.80% upside. In a report released today, Stifel Nicolaus also downgraded the stock to a Hold with a $93.50 price target.

See today’s best-performing stocks on TipRanks >>

AVLR market cap is currently $8.39B and has a P/E ratio of (64.89).

Based on the recent corporate insider activity of 73 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.

Read More on AVLR:

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