Avalara, Inc., together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company 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; and Avalara Item Classification, a solution that addresses the process of assigning proper country-specific Harmonized System codes to products. The company was formerly known as Advantage Solutions, Inc. and changed its name to Avalara, Inc. in December 2005. Avalara, Inc. was incorporated in 1999 and is headquartered in Seattle, Washington.
IPO Year: 2018
Exchange: NYSE
Website: avalara.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/29/2022 | Mkt Outperform → Mkt Perform | JMP Securities | |
| 8/16/2022 | $111.00 → $93.50 | Overweight → Equal-Weight | Morgan Stanley |
| 8/15/2022 | Outperform → Mkt Perform | Raymond James | |
| 4/25/2022 | $140.00 → $100.00 | Buy → Neutral | BofA Securities |
| 2/11/2022 | $130.00 → $138.00 | Outperform | BMO Capital Markets |
| 2/11/2022 | $200.00 → $135.00 | Buy | Stifel |
| 2/11/2022 | $220.00 → $155.00 | Outperform | Raymond James |
| 2/11/2022 | $140.00 → $160.00 | Buy | Mizuho |
| 2/11/2022 | $210.00 → $150.00 | Buy | Needham |
| 2/1/2022 | $130.00 | Outperform | BMO Capital Markets |
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8-K - AVALARA, INC. (0001348036) (Filer)
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that its shareholders voted to approve the pending transaction with Vista Equity Partners ("Vista") at the Company's Special Meeting of Shareholders (the "Special Meeting") held today. Approximately 80% of outstanding shares were represented at the meeting with 84% of those shares voting in favor of the proposed merger resulting in 66% of total outstanding shares in favor of the merger. Avalara will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission. Under the terms of the tra
Reiterates Its Belief that the Transaction Comes at the Wrong Time, at the Wrong Price and Follows the Wrong Process Remains Confident in Avalara's Standalone Opportunities to Deliver Value for Shareholders SANTA ROSA, Calif., Oct. 12, 2022 /PRNewswire/ -- Altair US, LLC ("Altair" or "we"), a pre-IPO angel investor in Avalara, Inc. (NYSE: AVLR) (the "Company" or "Avalara") and one of the Company's largest shareholders, today reiterated that it intends to vote AGAINST the Company's proposed sale to Vista Equity Partners ("Vista"). Altair believes other shareholders should do the same. We encourage shareholders to join us in voting AGAINST this flawed transactionAltair issued the following s
Glass Lewis Warns Shareholders of "Questionable" Deal Timing, "Apparent Conflicts of Interest" and an "Uncompelling and Inadequate" Valuation of Avalara SANTA ROSA, Calif., Oct. 5, 2022 /PRNewswire/ -- Altair US, LLC ("Altair" or "we"), a pre-IPO angel investor in Avalara, Inc. (NYSE: AVLR) (the "Company" or "Avalara") and one of the Company's largest shareholders, today noted that leading independent proxy advisory firm Glass, Lewis & Co. ("Glass Lewis") has recommended that Avalara shareholders vote AGAINST the Company's proposed sale to Vista Equity Partners ("Vista"). In its report, Glass Lewis concluded: "We share Altair's view that the purchase price and implied valuation metrics of t
Avalara Urges Shareholders to Vote "FOR" Value Maximizing Transaction on WHITE Proxy Card Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that leading independent proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that shareholders vote "FOR" the pending transaction with Vista Equity Partners ("Vista") at the Company's upcoming Special Meeting of Shareholders (the "Special Meeting") scheduled for October 14, 2022. In its September 30, 2022, report, ISS noted1: "… the proposed transaction provides certainty of value, at a premium to the unaffected price, compared to the significant downsid
Company Appears to Manipulate Data and Overstate Avalara's Challenges to Justify Its Disappointing Sale Company's Own Presentation Reinforces Altair's Belief that the Board Chose the Wrong Time to Sell, Conducted a Flawed Sale Process and Agreed to an Inadequate Price SANTA ROSA, Calif., Sept. 28, 2022 /PRNewswire/ -- Altair US, LLC ("Altair" or "we"), a pre-IPO angel investor in Avalara, Inc. (NYSE:AVLR) (the "Company" or "Avalara") and one of the Company's largest shareholders, today released a presentation in response to Avalara's recent, disingenuous claims about its proposed sale to Vista Equity Partners ("Vista"). The transaction is subject to a vote of shareholders at the Company's
Urges Shareholders to Vote "FOR" Transaction Ahead of Special Meeting of Shareholders on October 14, 2022 Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that it has filed an investor presentation highlighting the value maximizing, all-cash transaction entered into with Vista Equity Partners ("Vista") on August 8, 2022. The presentation can be found on the investor page of Avalara's website at investor.avalara.com. Highlights of the presentation include: The Avalara Board was strategic and proactive initiating a sale process considering the continued degradation of performance and further operating challenges antici
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation software for businesses of all sizes, today announced the release of 18 newly certified integrations with accounting, ERP, ecommerce, point-of-sale, mobile commerce, and CRM software applications. Avalara has been a partner-centric company since its founding in 2004, with a concerted focus on integrating with technology solutions already in use by existing and future customers. Avalara certified integration partners have met criteria developed by Avalara for performance and reliability. Certified integrations are built to ensure customers enjoy a fast, reliable, and easy process for embedding Avalara's automated tax
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that the waiting period has expired under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with its previously announced transaction with Vista Equity Partners. The transaction remains on track to close in the second half of 2022, subject to approval by holders of a majority of Avalara's outstanding common stock and other customary closing conditions. About Avalara Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avala
Altair Notes that the Transaction Comes at the Wrong Time, After a Flawed Process and at the Wrong Price Reiterates that There is No Imperative to Sell Avalara SANTA ROSA, Calif., Sept. 22, 2022 /PRNewswire/ -- Altair US, LLC ("Altair" or "we"), a pre-IPO angel investor in Avalara, Inc. (NYSE: AVLR) (the "Company" or "Avalara") and one of the Company's largest shareholders, released a presentation describing it intends to reject the Company's proposed sale to Vista Equity Partners ("Vista"). The proposed sale is subject to a vote of shareholders at the upcoming Special Meeting of Shareholders scheduled to be held on October 14, 2022. The presentation is av
Altair Notes that the Transaction Comes at the Wrong Time, After a Flawed Process and at the Wrong Price Reiterates that There is No Imperative to Sell Avalara SANTA ROSA, Calif., Sept. 22, 2022 /PRNewswire/ -- Altair US, LLC ("Altair" or "we"), a pre-IPO angel investor in Avalara, Inc. (NYSE: AVLR) (the "Company" or "Avalara") and one of the Company's largest shareholders, released a presentation describing it intends to reject the Company's proposed sale to Vista Equity Partners ("Vista"). The proposed sale is subject to a vote of shareholders at the upcoming Special Meeting of Shareholders scheduled to be held on October 14, 2022. The presentation is av
JMP Securities downgraded Avalara from Mkt Outperform to Mkt Perform
Morgan Stanley downgraded Avalara from Overweight to Equal-Weight and set a new price target of $93.50 from $111.00 previously
Raymond James downgraded Avalara from Outperform to Mkt Perform
BofA Securities downgraded Avalara from Buy to Neutral and set a new price target of $100.00 from $140.00 previously
BMO Capital Markets reiterated coverage of Avalara with a rating of Outperform and set a new price target of $138.00 from $130.00 previously
Stifel reiterated coverage of Avalara with a rating of Buy and set a new price target of $135.00 from $200.00 previously
Raymond James reiterated coverage of Avalara with a rating of Outperform and set a new price target of $155.00 from $220.00 previously
Mizuho reiterated coverage of Avalara with a rating of Buy and set a new price target of $160.00 from $140.00 previously
Needham reiterated coverage of Avalara with a rating of Buy and set a new price target of $150.00 from $210.00 previously
BMO Capital Markets initiated coverage of Avalara with a rating of Outperform and set a new price target of $130.00
Avalara, Inc. (NYSE:AVLR), a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced the appointment of human resources leader Ee Lyn Khoo as its new chief people officer. Her responsibilities include overseeing all global people and culture-related initiatives, including human resources; talent management and acquisition; diversity and inclusion; learning and development; total rewards including compensation and benefits; and organizational development. Ee Lyn brings two decades of human resources and diversity, equity, and inclusion experience to Avalara. She has held human resource leadership roles at global companies, including Amazon and
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation software for businesses of all sizes, today announced the appointment of global finance leader Marcela Martin to its board of directors. Martin is chief financial officer of Squarespace, the all-in-one website building platform, where she oversees the company's finance and corporate development functions. Prior to Squarespace, she was chief financial officer at Booking.com, where she led finance operations, risk management, corporate development, and M&A. Martin brings more than 25 years of global finance and leadership experience across consumer technology, software, and SaaS verticals with high-growth companies to
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation software for businesses of all sizes, today announced the appointment of global technology leader and innovator Srinivas Tallapragada and retired Lieutenant General Bruce Crawford to its board of directors. Tallapragada is president and chief engineering officer of Salesforce, the leader in customer relationship management, where he leads a global team responsible for building and managing the company's products and platform. Prior to Salesforce, he held multiple leadership roles at Oracle and SAP, where he led enterprise software development and was responsible for the integration of numerous acquisitions. Tallapra
Company Cancels Earnings Call in Light of Transaction with Vista Equity Partners Second Quarter Total Revenue of $208.6 Million Total Revenue Growth of 23% From Second Quarter 2021 Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced financial results for its second quarter ended June 30, 2022. "We posted a solid second quarter delivering year-over-year total revenue growth of 23%, in line with our guidance and we outperformed on our operating income guidance. We remain focused on delivering on the 2025 growth and profitability targets that we laid out at our recent Investor Day," said Scott McFarlane, Avalara co-founder
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that it will report financial results for its second quarter ended June 30, 2022 on Monday, August 8, 2022 after market close. Avalara will host a conference call and webcast at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on the same day to discuss its financial results and business highlights. Avalara Second Quarter 2022 Earnings Conference Call When: Monday, August 8, 2022 Time: 2:00 p.m. PT (5:00 p.m. ET) Conference Call: (888) 660-6196 from the United States, (929) 203-1824 International, with Conference ID 5816067; please dial in at least 15 minutes prio
First Quarter Total Revenue of $204.5 Million Total Revenue Growth of 33% From First Quarter 2021 Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced financial results for its first quarter ended March 31, 2022. "We started 2022 with another strong quarter, exceeding our guidance and achieving topline revenue growth of 33% year-over-year," said Scott McFarlane, Avalara co-founder and chief executive officer. "Mounting complexity in today's digital-first world is pushing global demand for compliance automation. We continue to execute our strategy to build the global cloud compliance platform to achieve our vision of being
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that it will report financial results for its first quarter ended March 31, 2022 on Thursday, May 5, 2022 after market close. Avalara will host a conference call and webcast at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on the same day to discuss its financial results and business highlights. Avalara First Quarter 2022 Earnings Conference Call When: Thursday, May 5, 2022 Time: 2:00 p.m. PT (5:00 p.m. ET) Conference Call: (888) 660-6196 from the United States, (929) 203-1824 International, with Conference ID 5816067; please dial in at least 15 minutes prior t
LONDON and NEW YORK, Feb. 16, 2022 /PRNewswire/ -- MLM 2, an information services and software platform led by veteran IP executive Mason Slaine, and Warburg Pincus, a leading global growth investor, today announced the acquisition of Minesoft, a leading patent search provider. The investment will enable the company to accelerate the development of new products, expand and scale globally, including in the U.S., and enhance existing products with analytics, artificial intelligence, and machine learning. Terms of the transaction were not disclosed. Minesoft marks the first acquisition for MLM 2, backed by a $1 billion equity commitment from Warburg Pincus. MLM 2 continues to pursue additional
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that it will report financial results for its fourth quarter and fiscal year ended December 31, 2021 on Thursday, February 10, 2022 after market close. Avalara will host a conference call and webcast at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on the same day to discuss its financial results and business highlights. Avalara Fourth Quarter and Fiscal Year 2021 Earnings Conference Call When: Thursday, February 10, 2022 Time: 2:00 p.m. PT (5:00 p.m. ET) Conference Call: (888) 660-6196 from the United States, (929) 203-1824 International, with Conference ID 58
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that it will report financial results for its third quarter ended September 30, 2021 on Thursday, November 4, 2021 after market close. Avalara will host a conference call and webcast at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on the same day to discuss its financial results and business highlights. Avalara Third Quarter 2021 Earnings Conference Call When: Thursday, November 4, 2021 Time: 2:00 p.m. PT (5:00 p.m. ET) Conference Call: (888) 660-6196 from the United States, (929) 203-1824 International, with Conference ID 5816067; please dial in at least 15 m
Avalara (NYSE:AVLR), a leading provider of tax compliance automation software for businesses of all sizes, today announced it has acquired CrowdReason Limited Liability Company, a developer of SaaS-based property tax compliance applications, as well as a related property valuation and advisory services business to help solve property tax compliance challenges. All 50 U.S. states and the District of Columbia assess property taxes on real property. A total of 38 states and D.C. also impose a business personal property tax on items a company uses to conduct business, including furniture, machinery, supplies, and more. Every jurisdiction's definition of what property is taxable and how to asse
Avalara (NYSE:AVLR), a leading provider of tax compliance automation software for businesses of all sizes, today announced it has acquired Track1099 LLC, a company that provides online software and services for cost-effectively managing, e-filing, and e-delivering IRS forms, including 1099s, W-2s, W-9s, and more. Every year, businesses must file information and withholding forms to report employee and contractor income to the IRS. There were an estimated 3.5 billion of these forms filed in 2020. Moving forward, more companies will be required to e-file when the IRS reduces the e-filing threshold from 250 to 100 forms for each business. Track1099 supported more than 40,000 customers with th
Second Quarter Total Revenue of $169.1 Million Total Revenue Growth of 45% From Second Quarter 2020 Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced financial results for its second quarter ended June 30, 2021. "The second quarter was an exceptionally great quarter for Avalara, as we continue to execute our vision to become the leading global cloud compliance platform. We reported total revenue growth of 45% year-over-year, the highest growth rate achieved since going public and 52% year-over-year calculated billings growth," said Scott McFarlane, Avalara co-founder and chief executive officer. "With strong business m
Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that its shareholders voted to approve the pending transaction with Vista Equity Partners ("Vista") at the Company's Special Meeting of Shareholders (the "Special Meeting") held today. Approximately 80% of outstanding shares were represented at the meeting with 84% of those shares voting in favor of the proposed merger resulting in 66% of total outstanding shares in favor of the merger. Avalara will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission. Under the terms of the tran
Avalara Urges Shareholders to Vote "FOR" Value Maximizing Transaction on WHITE Proxy Card Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that leading independent proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that shareholders vote "FOR" the pending transaction with Vista Equity Partners ("Vista") at the Company's upcoming Special Meeting of Shareholders (the "Special Meeting") scheduled for October 14, 2022. In its September 30, 2022, report, ISS noted1: "… the proposed transaction provides certainty of value, at a premium to the unaffected price, compared to the significant downsid
Workiva Inc (NYSE:WK), a cloud application provider for reporting and compliance, attracted takeover interest from private equity firms. Thoma Bravo and TPG are among firms that have held financing discussions with direct lenders to support a potential transaction, Bloomberg reports. Workiva, led by CEO Martin Vanderploeg, had a market valuation of about $3.5 billion before reports of the takeover interest. In August, Workiva reported second-quarter revenue growth of 24.6% to $131.5 million, beating the consensus of $126.1 million. Non-GAAP EPS loss of $(0.17) beat the consensus loss of $(0.26). Subscription and support revenue contributed $113.4 million, up 24.3%. Professional service
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Altair Notes that the Transaction Comes at the Wrong Time, After a Flawed Process and at the Wrong Price Reiterates that There is No Imperative to Sell Avalara SANTA ROSA, Calif., Sept. 22, 2022 /PRNewswire/ -- Altair US, LLC ("Altair" or "we"), a pre-IPO angel investor in Avalara, Inc. (NYSE: AVLR) (the "Company" or "Avalara") and one of the Company's largest shareholders, released a presentation describing it intends to reject the Company's proposed sale to Vista Equity Partners ("Vista"). The proposed sale is subject to a vote of shareholders at the upcoming Special Meeting of Shareholders scheduled to be held on October 14, 2022. The presentation is available at: https://tinyurl.com/
WESTFIELD, N.J., Sept. 15, 2022 /PRNewswire/ -- Merrion Investment Management Company ("MIMCo"), an SEC-Registered Investment Advisor that is a long-term owner of Avalara, Inc. (NYSE: AVLR) ("Avalara" or "AVLR") today announced its opposition to the purchase of Avalara by Vista Equity Partners. MIMCo issued the following statement: Avalara, Inc. announced on August 8, 2022 that it had agreed to be acquired by Vista Equity Partners ("Vista") at a price of $93.50/share in cash. Merrion Investment Management clients have been investors in AVLR common shares since October 2019. Since then, AVLR has achieved extraordinary growth and has posted remarkable metrics among its software-as-a-servi
Detroit-based Benzinga sent its team to New Orleans for Xerocon, Aug. 24-25. During that time, Benzinga sought to recognize the innovation in accounting technology and spoke with founders, investors and others. The following is a chat with Xero Limited (OTC:XROLF) Chief Product Officer Anna Curzon and Avalara Inc (NYSE:AVLR) Vice President and General Manager of Partner Development Frank Hanzlik. The following text is edited for clarity and concision. Q: Nice to meet you, both! Care to start off with an introduction? Curzon: The lion's share of my career has always been in and out of technology, and thinking about democratizing success. Moreover, I was working at a bank in New Zealand a
Detroit-based Benzinga sent its team to New Orleans for Xerocon, Aug. 24-25. While there, Benzinga sought to recognize the innovation in accounting technology and spoke with founders, investors and other interested parties. The following is a chat with Xero Limited (OTC:XROLF) CEO Steve Vamos and Chief Growth Officer Chris O’Neill. The following text is edited for clarity and concision. Q: Nice to meet you, both! Care to start off with an introduction? Vamos: I've been in the industry since when the big new thing was mini computers, working at IBM (NYSE:IBM). The reason I'm here today is that one of my experiences was in the birth of digital advertising and the change journey that invo
Upgrades According to Argus Research, the prior rating for AstraZeneca PLC (NASDAQ:AZN) was changed from Hold to Buy. For the second quarter, AstraZeneca had an EPS of $0.86, compared to year-ago quarter EPS of $0.45. At the moment, the stock has a 52-week-high of $71.70 and a 52-week-low of $55.50. AstraZeneca closed at $66.32 at the end of the last trading period. According to RBC Capital, the prior rating for The Toronto-Dominion Bank (NYSE:TD) was changed from Sector Perform to Outperform. In the third quarter, Toronto-Dominion Bank showed an EPS of $1.62, compared to $1.60 from the year-ago quarter. At the moment, the stock has a 52-week-high of $86.02 and a 52-week-low of $58.64. To
Benzinga Pro data, Avalara (NYSE:AVLR) reported Q2 sales of $208.59 million. Earnings fell to a loss of $55.85 million, resulting in a 71.54% decrease from last quarter. Avalara collected $204.53 million in revenue during Q1, but reported earnings showed a $32.56 million loss. Why Is ROIC Significant? Earnings data without context is not clear and can difficult to base trading decisions on. Return on Invested Capital (ROIC) helps to filter signal from noise by measuring yearly pre-tax profit relative to invested capital by a business. Generally, a higher ROIC suggests successful growth of a company and is a sign of higher earnings per share in the future. In Q2, Avalara posted an ROIC of -