Alteryx (AYX) Lifted 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 report released on Tuesday. The firm presently has a $30.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 13.46% from the stock’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 analysts have also weighed in on AYX. KeyCorp restated a “buy” rating and set a $24.00 target price on shares of Alteryx in a research note on Friday, September 22nd. Bank of America began coverage on shares of Alteryx in a research note on Monday, October 16th. They set a “buy” rating and a $26.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.50.

Alteryx (NYSE:AYX) traded down $0.14 during mid-day trading on Tuesday, hitting $26.44. 466,442 shares of the company were exchanged, compared to its average volume of 389,014. Alteryx has a 12-month low of $14.61 and a 12-month high of $29.16. The stock has a market capitalization of $1,560.00 and a price-to-earnings ratio of -47.21.

Alteryx (NYSE:AYX) last released its earnings results on Thursday, November 9th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $34.16 million for the quarter, compared to analyst estimates of $32.06 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. equities analysts predict that Alteryx will post -0.33 earnings per share for the current year.

In related news, CEO Dean Stoecker sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $25.87, for a total value of $517,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Rubin sold 40,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold 181,470 shares of company stock valued at $4,684,932 over the last ninety days.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors acquired a new position in Alteryx in the second quarter valued at approximately $100,000. Tower Research Capital LLC TRC acquired a new position in Alteryx in the second quarter valued at approximately $117,000. The Manufacturers Life Insurance Company boosted its holdings in Alteryx by 685.3% in the second quarter. The Manufacturers Life Insurance Company now owns 7,853 shares of the company’s stock valued at $154,000 after purchasing an additional 6,853 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Alteryx in the second quarter valued at approximately $187,000. Finally, Invictus RG acquired a new position in Alteryx in the third quarter valued at approximately $202,000. 28.29% of the stock is owned by hedge funds and other institutional investors.

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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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