Alteryx (AYX) Price Target Increased to $76.00 by Analysts at Cowen

Alteryx (NYSE:AYX) had its price target increased by Cowen from $64.00 to $76.00 in a research report sent to investors on Thursday morning, The Fly reports. Cowen currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on AYX. Zacks Investment Research upgraded Alteryx from a sell rating to a hold rating in a research note on Monday, September 24th. DA Davidson set a $66.00 price target on Alteryx and gave the company a hold rating in a research note on Thursday. They noted that the move was a valuation call. Needham & Company LLC lifted their price target on Alteryx to $65.00 and gave the company a buy rating in a research note on Monday, September 24th. KeyCorp lifted their price target on Alteryx from $61.00 to $74.00 and gave the company an overweight rating in a research note on Thursday. Finally, Citigroup set a $81.00 price target on Alteryx and gave the company a buy rating in a research note on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Alteryx currently has a consensus rating of Buy and a consensus target price of $63.27.

Shares of AYX stock traded down $0.41 during midday trading on Thursday, hitting $57.88. The company had a trading volume of 929,488 shares, compared to its average volume of 1,184,372. Alteryx has a 52-week low of $21.15 and a 52-week high of $67.40. The company has a market capitalization of $3.24 billion, a P/E ratio of -186.71 and a beta of 0.99. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.91.

Alteryx (NYSE:AYX) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.13. Alteryx had a negative return on equity of 9.44% and a negative net margin of 9.44%. The firm had revenue of $54.18 million for the quarter, compared to the consensus estimate of $49.79 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 58.6% compared to the same quarter last year. As a group, equities analysts predict that Alteryx will post -0.47 earnings per share for the current fiscal year.

In related news, insider Langley P. Eide sold 37,003 shares of Alteryx stock in a transaction on Monday, August 13th. The stock was sold at an average price of $55.36, for a total transaction of $2,048,486.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Dean Stoecker sold 40,000 shares of Alteryx stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $53.61, for a total value of $2,144,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 194,855 shares of company stock valued at $9,551,233 and have sold 3,390,485 shares valued at $187,381,390. Insiders own 39.01% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Alteryx by 47.8% during the second quarter. BlackRock Inc. now owns 2,027,578 shares of the company’s stock worth $77,373,000 after purchasing an additional 655,701 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Alteryx by 20.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 58,910 shares of the company’s stock worth $2,249,000 after purchasing an additional 9,900 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Alteryx during the second quarter worth $876,000. Seven Eight Capital LP acquired a new position in Alteryx during the third quarter worth $2,433,000. Finally, Sandler Capital Management acquired a new position in Alteryx during the second quarter worth $29,515,000. 43.05% of the stock is owned by hedge funds and other institutional investors.

Alteryx Company Profile

Alteryx, Inc operates a self-service data analytics software platform that enables organizations to enhance business outcomes and the productivity of their business analysts. Its software platform includes Alteryx Designer for data preparation, blending, and analytics that could be deployable in the cloud and on premise; Alteryx Server, a secure and scalable server-based product for scheduling, sharing, and running analytic processes and applications in a Web-based environment; Alteryx Connect, a collaborative data exploration platform for discovering information assets and sharing recommendations across the enterprise; Alteryx Promote, an analytics model management product for data scientists and analytics teams to build, manage, monitor, and deploy predictive models to production; and Alteryx Analytics Gallery, a cloud-based collaboration offering that allows users to share workflows in a centralized repository.

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