Will Avalara, Inc. (AVLR) Short Squeeze Soon? The Stock Formed a Bearish Double Bottom

October 2, 2018 - By Hazel Jackson

The chart of Avalara, Inc. (AVLR) shows a double bottom with $34.90 target or 8.00 % below today’s $37.93 share price. The 5 months chart pattern indicates high risk for the $2.52B company. It was reported on Oct, 2 by Finviz.com. If the $34.90 price target is reached, the company will be worth $201.68M less. Double bottoms are rare but powerful chart patterns.

The stock increased 8.59% or $3 during the last trading session, reaching $37.93. About 1.14 million shares traded or 164.09% up from the average. Avalara, Inc. (NYSE:AVLR) has 0.00% since October 2, 2017 and is . It has underperformed by 15.62% the S&P500.

Analysts await Avalara, Inc. (NYSE:AVLR) to report earnings on November, 8. After $-0.44 actual earnings per share reported by Avalara, Inc. for the previous quarter, Wall Street now forecasts -59.09 % EPS growth.

More notable recent Avalara, Inc. (NYSE:AVLR) news were published by: Seekingalpha.com which released: “Cloudera, MongoDB earnings pull up application software peers” on September 06, 2018, also Benzinga.com with their article: “Benzinga’s Top Upgrades, Downgrades For October 1, 2018” published on October 01, 2018, Benzinga.com published: “KeyBanc Upgrades Avalara After 42% Fall, Says Tax Software Maker Has $1B Potential” on October 01, 2018. More interesting news about Avalara, Inc. (NYSE:AVLR) were released by: Benzinga.com and their article: “38 Stocks Moving In Monday’s Mid-Day Session” published on October 01, 2018 as well as Benzinga.com‘s news article titled: “South Dakota v. Wayfair” with publication date: October 01, 2018.

Avalara, Inc. provides transaction tax compliance cloud solutions worldwide. The company has market cap of $2.52 billion. 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. It currently has negative earnings. 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.

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