Avalara (AVLR), mcap=$6.2bn, price $70.80 vs $77.00

– Tax compliance SaaS.
– Dominant in US mid-market segment.
– Sharetaker with high retention and long-term 20% CAGR growth prospects.
– Further upside from enterprise and int. businesses.
– Shares are down due to a general sell-off in growth stocks and e-comm worries.

Valuation: Trades at 7.5x sales and 10x GP for ’22, with expected 20%+ revenue CAGR. Assuming 30%+ terminal op margins, the stock sits at 20x ’22 earnings power.

Exp. gain: IRR 20-30% for the next 5-10 years.

Full AVLR write-up (free guest account required):

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