|Bid||73.05 x 1200|
|Ask||73.07 x 1000|
|Day's Range||71.95 - 73.86|
|52 Week Range||28.09 - 94.31|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||101.45|
There are over 5,200 stock analysts working on Wall Street, and all of them claim to have some insight into the markets. But who is the best?Canaccord Genuity’s Richard Davis stands out as 1, according to the results of TipRanks natural language algorithms, which have sifted through 5,200 analysts' reports on more than 5,000 actively traded stocks. In that list, Davis’s stock recommendations have a success rate of 85%, and the average return from the stocks he recommends is 46.6%.Davis is an expert in the stock market’s technology sector, where he has compiled an enviable record as an analyst and earned the 1 spot in TipRank’s database. Let’s look at his three most recent stock calls, to find out what Wall Street’s best analyst is interested in today. Avalara, Inc. (AVLR)Avalara is a provider of cloud-based tax compliance software. As tax law grows ever more complicated across jurisdictions, and accountants more expensive, high-quality tax software is filling a vital niche, allowing people to handle the routine matters of tax compliance, filing, and record keeping on their own.The company went public in June 2018, with a price range of $19 to $21 per share. It has appreciated 309% since then, quadrupling in value. Davis examined the stock on August 25, and noted, “[Avalara] is well positioned and well managed to automate desultory business tasks so that humans can focus on more value-created activities. Its current valuation is high, but we see the potential for perhaps a decade of 20%+ growth.” In line with that assessment, Davis rated Avalara as a Buy. He put a $100 price target on the stock, indicating a 16% upside potential in the next 12 months.Davis is not alone taking a bullish stance on AVLR. The stock has a unanimous analyst consensus of Strong Buy, from 7 buy ratings in the last three months. Shares are trading for $86, and the $101 average price target suggests an upside of 17%. Dynatrace, Inc. (DT)Davis’s second call from August 25 was Dynatrace, a software intelligence company that had its IPO this past August 1. The company markets to medium and large businesses, with artificial intelligence software designed to manage and monitor cloud infrastructure. It’s a growing field in the software world.In his note on DT stock, Davis says, “The company leads the way in next-gen software intelligence. The company is generating positive operating cash flow margins of 25%+ this year.” Those margins are key, and in response Davis gives DT shares a Buy rating. His $30 price target indicates confidence in a 25% upside for this newcomer to the stock markets.Dynatrace shares have a Moderate Buy from the analyst consensus, based on 6 buys and 3 holds given in the first month of trading. The average price target of $28.44 implies an upside potential of 19% from the current share price of $23.90. Salesforce.com, Inc. (CRM)The third stock that caught Davis’s attention recently is Salesforce, something of a household name in the cloud software world. The company was an early leader in the field of Customer Relationship Management (hence it’s ticker, CRM) software back in 1999, and remains at the head of its field today. Last week, Salesforce released blockbuster quarterly earnings numbers that beat the forecasts and guided toward accelerating growth in the next 6 months.The quarterly results, with their 22% year-over-year revenue gain and 40% EPS beat, got Davis’s attention. He described the company’s fiscal Q2 as “solid” and raised his price target by 5.7% to $185. Davis wrote, “The results were good in every metric that mattered and allayed investor fears of a slowdown. We like the reasonable current valuation…” His price target on CRM suggests a 22% upside for the stock.Overall, CRM holds a Strong Buy rating in the analyst consensus. The stock has racked up a total of 29 buys in the last three months, against a single hold. Shares are selling for $151, the average price target is $186, and the upside potential is an impressive 23%.Visit TipRanks’ Top Experts, and find out what other stocks top analyst Richard Davis and his peers are following now.
Avalara (AVLR) delivered earnings and revenue surprises of 72.73% and 7.90%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Holistic growth, backed by the launch of innovative products and strategic acquisitions, is likely to drive second-quarter 2019 revenues of Turtle Beach (HEAR).
Innovative products that augment the portfolio of public safety network testing solutions are likely to drive second-quarter 2019 revenues of PCTEL (PCTI).
Despite significant thrust on infrastructure development, CenturyLink (CTL) is likely to record lower revenues in the second quarter year over year owing to secular declining trends.
Improved performance of commercial aerospace and Industrial markets is likely to drive third-quarter fiscal 2019 revenues of Woodward (WWD).
Avalara, Inc. , a leading provider of tax compliance automation for businesses of all sizes, today announced that its Chief Financial Officer, Bill Ingram, will present at the KeyBanc Capital Markets 21st Annual Technology Leadership Forum in Vail.
Avalara (AVLR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Avalara, Inc. is a leading provider of tax compliance automation for businesses and it has been a "hot" new issue, in my opinion. We don't have a lot of trading history to work with but let's check the charts.
In a span of one year, Avalara went public, recorded a high revenue growth of 38 percent, acquired two startups and appointed three new executives.
Avalara (AVLR) has been upgraded to a Zacks Rank 1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
For navigating the company through a successful year that included an office relocation and going public, Scott McFarlane, the CEO and co-founder of Avalara, is the Puget Sound Business Journal’s Middle Market Schwabe, Williamson & Wyatt Executive of the Year.
Avalara, Inc. , a leading provider of tax compliance automation for businesses of all sizes, today announced that its Chief Financial Officer, Bill Ingram, will present at the Stifel Cross Sector Insight Conference in Boston.
Avalara, Inc. (AVLR) today announced the pricing of an underwritten public offering of 3,594,769 shares of its common stock, all of which are being offered by Avalara, at a price to the public of $69.40 per share. Avalara has granted the underwriters a 30-day option to purchase up to an additional 539,215 shares of common stock at the public offering price. Goldman Sachs & Co. LLC is acting as lead book-running manager for the offering, with BofA Merrill Lynch and Morgan Stanley also acting as book-running managers.
Avalara, Inc. (AVLR) today announced the launch of a proposed underwritten public offering of 3,000,000 shares of its common stock, all of which are being offered by Avalara. Avalara also expects to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock in the proposed offering at the public offering price. Goldman Sachs & Co. LLC is acting as lead book-running manager for the offering, with BofA Merrill Lynch and Morgan Stanley also acting as book-running managers.