Tax compliance services provider Avalara, Inc. (AVLR) has announced its partnership with Volusion to provide its services to the company. Volusion provides E-commerce services to online businesses.
Following the news, shares of the Avalara appreciated marginally to close at $161.28 in Friday’s trading session.
With this partnership, Volusion has become a part of Avalara’s “Certified for AvaTax” program. The company’s move will help ease the process of tax compliance for its customers.
The Senior Vice-President of Partner Management at Avalara, Greg Chapman, said, “Volusion understands the needs of its customers, and their E-commerce platform reduces complexity for their customers in many ways. We understand that digitization of business processes is not an option; it is essential, and we are proud to offer fast, accurate, and easy tax compliance solutions to our shared customers.” (See Avalara stock chart on TipRanks)
Last month, Needham analyst Scott Berg reiterated a Buy rating on the stock with a price target of $210. The analyst’s price target implies upside potential of 30.2% from current levels.
Consensus among analysts is a Strong Buy based on 6 unanimous Buys. The average Avalara price target of $182 implies upside potential of 12.85% from current levels. Shares of the company have gained 27.1% over the past year.
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