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Home Bank News Dogwood State Bank Announces Completion of $28 Million Private Placement Offering

Dogwood State Bank Announces Completion of $28 Million Private Placement Offering

TipRanks

3 “Strong Buy” Stocks From the Best Analysts on Wall Street

Almost two months into 2021, the market appears undecided about where it is heading next. In fact, many investors fear the market is due for a serious correction, especially for the wide selection of richly valued stocks. It is an environment that requires fussier stock picking. Or maybe it’s prudent to turn in such times to the best at spotting where the next opportunity lies. And for best, we mean the cream of the crop – the finest analysts on Wall Street. We’ve pulled up the details on 3 stocks that the Street’s top 3 analysts, according to the TipRanks database, have recently earmarked as ones to look out for over the next 12 months. All three are from different sectors but have one characteristic in common; they are rated Strong Buys by the analyst consensus. Avalara, Inc. (AVLR) We’ll start with Avalara, a software company that develops cloud-based systems for international tax preparers, making it a much-needed product for any business with international clients. Avalara’s products automate business tax compliance, and integrate apps for business, tax, and accounting records – all services that are necessary for keeping small- and mid-sized customer companies in line with local and international tax regulations. The COVID pandemic – and the social lockdowns and travel restrictions put in place to combat it – have made it difficult for small businesses to reach out to their tax professionals – and made Avalara’s products in tax automation suddenly more valuable. The company’s stock has soared since the market downturn last winter, gaining 205% since its lowest point, hit last March. These share gains have come alongside steady revenue growth. The last quarter reported, 4Q20, showed $144.76 million at the top line, up 13% sequentially and 34.5% year-over-year. Even better, for investors seeking strength, Avalara announced in December that it will be acquiring the German tax software firm INPOSIA. The financial terms of the agreement were not disclosed, but INPOSIA brings additional international tax know-how, access to Europe’s largest economy, and workforce of 50 people – which are all now assets for Avalara. Piper Sandler analyst Brent Bracelin is ranked #1 out of more than 7,200 analysts, and he sees the INPOSIA acquisition as a strong move for Avalara in adjusting to the European compliance scene. “New e-invoicing laws could emerge as a regulatory catalyst. Several European countries have plans to modernize the 20+ year old VAT system with intent to move to digital invoicing and real-time reporting,” the 5-star analyst said. “INPOSIA acquisition serves as a key digital bridge into tax authorities. The acquisition of a German software firm that is expected to close during the 1H of 2021 has the potential to emerge as a new vehicle for Avalara to capitalize on all these new e-invoicing laws…” Bracelin believes that international…

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