Avalara enjoyed a blockbuster IPO that reaped in more than $180 million, greatly exceeding the expectations of the market and shooting past the company’s target.
The company can be considered to be highly overvalued given that it was trading at nearly $45 a share at one point, a far cry from what it may be.
Avalara has enjoyed a decent surge in revenue growth in recent years, but the company nonetheless remains non-profitable at the moment, which will give some investors pause.
While the IPO essentially saw shares double, keep a close eye onAvalara as a potentially overvalued company after its debut.
Early backers of Avalara (NYSE:AVLR) are enjoying a financial heyday after the company enjoyed a blockbuster debut that saw shares trading up the next day. The tax software company saw its share prices