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BMO Capital Thinks Avalara’s Stock is Going to Recover

BMO Capital analyst Daniel Jester maintained a Buy rating on Avalara (AVLRResearch Report) today and set a price target of $93.00. The company’s shares closed last Thursday at $85.63, close to its 52-week low of $66.39.

According to TipRanks.com, Jester is a 4-star analyst with an average return of 10.8% and a 55.8% success rate. Jester covers the Technology sector, focusing on stocks such as Ceridian HCM Holding, Bill.com Holdings, and Coupa Software.

Avalara has an analyst consensus of Strong Buy, with a price target consensus of $114.00, which is a 33.1% upside from current levels. In a report issued on June 29, Needham also maintained a Buy rating on the stock with a $150.00 price target.

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Avalara’s market cap is currently $7.52B and has a P/E ratio of -58.15.

Based on the recent corporate insider activity of 75 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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