Alteryx (AYX) Price Target Raised to $70.00

Alteryx (NYSE:AYX) had its target price boosted by investment analysts at Raymond James from $54.00 to $70.00 in a note issued to investors on Thursday. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 20.94% from the company’s previous close.

A number of other research firms have also recently commented on AYX. Cowen increased their price target on shares of Alteryx from $64.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities raised their target price on shares of Alteryx from $52.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday. Zacks Investment Research upgraded shares of Alteryx from a “sell” rating to a “hold” rating in a report on Monday, September 24th. DA Davidson set a $66.00 target price on shares of Alteryx and gave the stock a “hold” rating in a report on Thursday. They noted that the move was a valuation call. Finally, Needham & Company LLC raised their target price on shares of Alteryx to $65.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Alteryx presently has a consensus rating of “Buy” and a consensus target price of $66.45.

NYSE:AYX opened at $57.88 on Thursday. Alteryx has a 52 week low of $23.00 and a 52 week high of $67.40. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.71 and a current ratio of 2.71. The company has a market cap of $3.57 billion, a PE ratio of -186.71 and a beta of 0.99.

Alteryx (NYSE:AYX) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.13. Alteryx had a negative net margin of 6.72% and a negative return on equity of 7.38%. The firm had revenue of $54.18 million for the quarter, compared to analysts’ expectations of $49.79 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The business’s revenue for the quarter was up 58.6% on a year-over-year basis. As a group, equities analysts predict that Alteryx will post -0.47 earnings per share for the current fiscal year.

In other Alteryx news, insider Langley P. Eide sold 37,003 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $55.36, for a total value of $2,048,486.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insight Venture Partners Viii, sold 595,500 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $55.62, for a total transaction of $33,121,710.00. Following the completion of the transaction, the insider now owns 930,005 shares in the company, valued at $51,726,878.10. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 194,855 shares of company stock worth $9,551,233 and sold 3,390,485 shares worth $187,381,390. Company insiders own 39.01% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AYX. NumerixS Investment Technologies Inc bought a new position in Alteryx in the second quarter worth approximately $130,000. Bessemer Group Inc. bought a new position in Alteryx in the third quarter worth approximately $140,000. Truvestments Capital LLC bought a new position in Alteryx in the third quarter worth approximately $169,000. State Treasurer State of Michigan bought a new position in Alteryx in the third quarter worth approximately $203,000. Finally, Oppenheimer & Co. Inc. bought a new position in Alteryx in the third quarter worth approximately $235,000. Institutional investors and hedge funds own 43.05% of the company’s stock.

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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