Alteryx (NYSE:AYX) Raised to Buy at Zacks Investment Research

Alteryx (NYSE:AYX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, January 9th. The brokerage presently has a $30.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.32% from the company’s previous close.

According to Zacks, “Alteryx, Inc. provides self-service data analytics software platform. The Company’s product consists of Alteryx Designer, Alteryx Server and Alteryx Analytics Gallery. Alteryx Designer offer data preparation, blending and analytics which could be deployable in the cloud and on premise; Alteryx Server, a secure and scalable product for sharing and running analytic applications in a Web-based environment and Alteryx Analytics Gallery, a cloud-based collaboration offering which allows users to share workflows in a centralized repository. Alteryx, Inc. is headquartered in Irvine, California. “

A number of other equities research analysts have also weighed in on the stock. Bank of America boosted their target price on shares of Alteryx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 10th. KeyCorp reissued an “overweight” rating and set a $29.00 price objective (up previously from $24.00) on shares of Alteryx in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Alteryx has an average rating of “Buy” and a consensus price target of $22.50.

Shares of Alteryx (AYX) traded up $0.45 during midday trading on Tuesday, reaching $26.71. 251,382 shares of the company were exchanged, compared to its average volume of 434,936. Alteryx has a 52 week low of $14.61 and a 52 week high of $29.16. The stock has a market cap of $1,560.00 and a price-to-earnings ratio of -47.70.

Alteryx (NYSE:AYX) last announced its earnings results on Thursday, November 9th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.10. The business had revenue of $34.16 million during the quarter, compared to analyst estimates of $32.06 million. Alteryx had a negative net margin of 18.68% and a negative return on equity of 19.62%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. equities research analysts anticipate that Alteryx will post -0.33 EPS for the current year.

In related news, major shareholder Qualified Master Fund L. Abdiel acquired 75,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average price of $25.54 per share, with a total value of $1,915,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dean Stoecker sold 20,000 shares of the stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $25.87, for a total transaction of $517,400.00. The disclosure for this sale can be found here. Insiders sold a total of 201,470 shares of company stock valued at $5,209,132 in the last ninety days.

Several hedge funds and other institutional investors have recently made changes to their positions in AYX. Abdiel Capital Advisors LP purchased a new stake in shares of Alteryx during the 2nd quarter valued at about $24,460,000. Vanguard Group Inc. raised its position in shares of Alteryx by 2,833.6% during the 2nd quarter. Vanguard Group Inc. now owns 586,718 shares of the company’s stock valued at $11,453,000 after buying an additional 566,718 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Alteryx by 1,570.2% during the 3rd quarter. Citadel Advisors LLC now owns 354,954 shares of the company’s stock valued at $7,230,000 after buying an additional 333,702 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Alteryx during the 3rd quarter valued at about $6,620,000. Finally, Pier Capital LLC purchased a new stake in shares of Alteryx during the 3rd quarter valued at about $4,967,000. Hedge funds and other institutional investors own 28.29% of the company’s stock.

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Alteryx Company Profile

Alteryx, Inc is a United States-based provider of self-service data analytics software. The Company offers various products, such as Alteryx Designer, Alteryx Server and Alteryx Analytics Gallery. Alteryx Designer is a repeatable workflow for self-service data analytics. Alteryx Designer allows data analysts by combining data preparation, data blending, and analytics-predictive, statistical and spatial-using the same user interface.

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