Zacks Investment Research Downgrades Alteryx (NYSE:AYX) to Hold

Alteryx (NYSE:AYX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, January 10th.

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. “

AYX has been the topic of several other research reports. KeyCorp reissued an “overweight” rating and set a $29.00 price objective (up previously from $24.00) on shares of Alteryx in a research note on Thursday, November 9th. Bank of America assumed coverage on shares of Alteryx in a research note on Monday, October 16th. They set a “buy” rating and a $26.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $22.50.

Shares of Alteryx (NYSE:AYX) traded up $0.45 during midday trading on Wednesday, hitting $26.71. 248,688 shares of the stock traded hands, compared to its average volume of 453,300. The company has a market cap of $1,560.00 and a price-to-earnings ratio of -47.70. Alteryx has a one year low of $14.61 and a one year high of $29.16.

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

In other news, CFO Kevin Rubin sold 40,000 shares of Alteryx stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $25.99, for a total value of $1,039,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 75,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was acquired at an average price of $25.54 per share, for a total transaction of $1,915,500.00. The disclosure for this purchase can be found here. Insiders have sold a total of 201,470 shares of company stock worth $5,209,132 over the last 90 days.

Several large investors have recently added to or reduced their stakes in AYX. Abdiel Capital Advisors LP bought a new position in shares of Alteryx in the second quarter valued at $24,460,000. Vanguard Group Inc. grew its stake in shares of Alteryx by 2,833.6% in the second 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 grew its stake in shares of Alteryx by 1,570.2% in the third 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. bought a new position in shares of Alteryx in the third quarter valued at $6,620,000. Finally, Pier Capital LLC bought a new position in shares of Alteryx in the third quarter valued at $4,967,000. 28.29% of the stock is owned by institutional investors and hedge funds.

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About Alteryx

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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