Avalara (AVLR) Should See Meaningful Growth From Cross Border eCommerce - Stephens
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Stephens analyst James Rutherford reiterated an Overweight rating and $105.00 price target on Avalara (NYSE: AVLR) on the belief that cross border ecommerce can grow into a meaningful top line component in time.
The analyst stated "Cross-border is the fastest growing subset of eCommerce (>30%) and Avalara's capabilities in this niche continue to advance. The acquisitions of Tradestream (May 2018), Indix (Feb 2019), and Portway International (Aug 2019) prove that Avalara is serious about this business, and people in the cross-border industry are starting to take notice. Currently Avalara offers HS classification and AvaTax Cross-Border, but down the road we think they can expand their offerings to include customs filing, restricted party screening, guaranteed landed cost, and even carrier optimization. In this note we explore the secular trends in cross-border, we crawl through Avalara's
current offerings (the inner-workings, the TAM, the competition), and we touch on the future of the cross-border product. We believe crossborder can grow to 10%-15% of revenue over time".
Shares of Avalara closed at $78.09 yesterday.
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