Oppenheimer Initiates Coverage on Alteryx (AYX)

Oppenheimer began coverage on shares of Alteryx (NYSE:AYX) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $48.00 price target on the stock. Oppenheimer’s price target would suggest a potential upside of 29.84% from the stock’s current price.

Several other brokerages have also issued reports on AYX. KeyCorp restated a “hold” rating on shares of Alteryx in a research report on Wednesday, May 9th. Needham & Company LLC boosted their target price on Alteryx from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 10th. Zacks Investment Research lowered Alteryx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. ValuEngine upgraded Alteryx from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Citigroup started coverage on Alteryx in a research report on Friday. They set an “outperform” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $39.11.

Shares of Alteryx opened at $36.97 on Friday, Marketbeat.com reports. Alteryx has a 1 year low of $18.64 and a 1 year high of $41.47.

Alteryx (NYSE:AYX) last announced its earnings results on Wednesday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. Alteryx had a negative return on equity of 8.69% and a negative net margin of 11.67%. The business had revenue of $42.82 million during the quarter, compared to analyst estimates of $39.86 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 50.0% compared to the same quarter last year. analysts anticipate that Alteryx will post -0.41 earnings per share for the current fiscal year.

In other news, CRO Robert Scott Jones sold 6,076 shares of Alteryx stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $33.82, for a total transaction of $205,490.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher M. Lal sold 5,000 shares of Alteryx stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 620,000 shares of company stock valued at $21,349,000 and have sold 259,945 shares valued at $9,131,149. Insiders own 39.01% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Abdiel Capital Advisors LP raised its stake in shares of Alteryx by 1.9% during the fourth quarter. Abdiel Capital Advisors LP now owns 4,001,344 shares of the company’s stock valued at $101,114,000 after acquiring an additional 75,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of Alteryx by 3.2% during the first quarter. BlackRock Inc. now owns 1,371,877 shares of the company’s stock valued at $46,836,000 after acquiring an additional 42,373 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Alteryx during the first quarter valued at approximately $40,538,000. Keenan Capital LLC bought a new stake in shares of Alteryx during the fourth quarter valued at approximately $23,726,000. Finally, Tensile Capital Management LLC raised its stake in shares of Alteryx by 103.7% during the first quarter. Tensile Capital Management LLC now owns 490,822 shares of the company’s stock valued at $16,757,000 after acquiring an additional 249,892 shares in the last quarter. 36.28% 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.

Analyst Recommendations for Alteryx (NYSE:AYX)

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