William Blair Equities Analysts Lower Earnings Estimates for Avantax, Inc. (NASDAQ:AVTA)

Avantax, Inc. (NASDAQ:AVTA – Free Report) – Equities research analysts at William Blair cut their Q3 2023 earnings per share (EPS) estimates for shares of Avantax in a report released on Thursday, July 13th. William Blair analyst J. Schmitt now expects that the company will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.32. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Avantax’s current full-year earnings is $0.68 per share. William Blair also issued estimates for Avantax’s Q4 2023 earnings at $0.32 EPS.

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Several other equities research analysts have also commented on the company. Barrington Research decreased their price target on Avantax to $32.50 in a research note on Tuesday, May 9th. Cantor Fitzgerald reduced their target price on Avantax from $33.00 to $29.00 in a research note on Tuesday, May 9th.

Avantax Price Performance

Shares of NASDAQ:AVTA opened at $25.18 on Monday. The stock’s 50 day moving average price is $22.37. The stock has a market cap of $971.70 million, a price-to-earnings ratio of 3.13, a price-to-earnings-growth ratio of 2.46 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 1.44. Avantax has a 12 month low of $17.83 and a 12 month high of $30.23.

Avantax (NASDAQ:AVTA – Get Free Report) last announced its quarterly earnings results on Monday, May 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.21). The firm had revenue of $177.98 million for the quarter, compared to analysts’ expectations of $182.33 million. Avantax had a return on equity of 5.41% and a net margin of 49.72%. Avantax’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS.

Avantax Company Profile

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Avantax, Inc provides wealth management solutions to consumers, small business owners, tax professionals, financial professionals, and certified public accounting firms in the United States. The company offers an integrated platform of technical, practice, compliance, operations, sales, and product support tools that enable to offer tax-advantaged planning, investing, and wealth management services.

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