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Fly News Breaks for February 20, 2020
AVLR
Feb 20, 2020 | 06:31 EDT
Citi analyst Daniel Jester initiated coverage of Avalara with a Buy rating and $120 price target. After growing sales 41% in 2019, management is guiding for 23%-24% topline growth in 2020, which is conservative and leaves room for upside, Jester tells investors in a research note. Longer-term, he sees a favorable set-up with Avalara having just ~5% of its market.
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