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Avalara, Inc. (AVLR) 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.
The company's solutions include AvaTax, a solution for determining sales tax in the United States; Avalara Returns for tax return preparation, filing, and remittance; and Avalara Compliance Document Management solution, which creates, validates, stores, and manages sales tax exemption and reseller certificates.
It also provides professional services, including nexus studies and analysis, voluntary compliance initiatives, tax registrations, and specialized tax research; MatrixMaster, a product taxability database for retail operations; Avalara CloudConnect, a hardware device for processing and storing transactions on-site for regularly scheduled uploads to AvaTax; Avalara Licensing, an online platform for business licenses and sales tax registrations; VAT Expert, a Web-based solution that checks the validity of customer and supplier value-added tax (VAT) numbers and provides VAT determinations in the form of invoices; and Brazilian tax compliance solutions that address the Brazilian transaction tax regimes through electronic compliance report validation, electronic invoice authentication and preparation, tax determination, and returns preparation.
On May 7th, Avalara (AVLR) reported a 1st Quarter March 2019 loss of $0.11 per share on revenue of $85.0 million. The consensus estimate was a loss of $0.24 per share on revenue of $78.8 million.
The company said it expects second quarter revenue of $84.0 million to $85.0 million. The current consensus revenue estimate is $80.6 million for the quarter ending June 30, 2019. The company also said it now expects 2019 revenue of $346.0 million to $349.0 million. The company's previous guidance was revenue of $328.0 million to $332.0 million and the current consensus estimate isrevenue of $331.4 million for the year ending December 31, 2019. Following the report, shares have formed a bullish "flag" and are expected to move higher from this formation.
Entry Point: $71.00
Stop Loss: $68.00
Trading Range: $28.09 to $74.90
Target Price: $78.50
AVLR closed at $79.75
