Alteryx, Inc. (AYX) Earns Overweight Rating from KeyCorp

KeyCorp reaffirmed their overweight rating on shares of Alteryx, Inc. (NYSE:AYX) in a research report sent to investors on Thursday morning. KeyCorp currently has a $29.00 target price on the stock, up from their previous target price of $24.00.

“We are raising our price target to $29 from $24 rolling forward to a 2019 EV/Sales multiple of 7.0x (vs. peers valued at FTM EV/S of 7.0x).”,” the firm’s analyst wrote.

Several other research analysts also recently issued reports on the stock. Bank of America Corporation assumed coverage on shares of Alteryx in a report on Monday, October 16th. They set a buy rating and a $26.00 price objective on the stock. Zacks Investment Research downgraded shares of Alteryx from a buy rating to a hold rating in a report on Tuesday, October 3rd. Finally, Cowen and Company restated an outperform rating and set a $23.00 price objective (up previously from $21.00) on shares of Alteryx in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $21.70.

Alteryx (NYSE AYX) opened at $25.30 on Thursday. Alteryx has a twelve month low of $14.61 and a twelve month high of $26.89.

Alteryx (NYSE:AYX) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.10. The company had revenue of $34.16 million for the quarter, compared to the consensus estimate of $32.06 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year. sell-side analysts predict that Alteryx will post -0.47 earnings per share for the current year.

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In related news, major shareholder Qualified Master Fund L. Abdiel bought 55,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $22.87 per share, with a total value of $1,257,850.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel bought 60,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was bought at an average cost of $18.98 per share, with a total value of $1,138,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,372,500 shares of company stock worth $50,178,900 and sold 7,700,000 shares worth $155,848,000.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors bought a new position in shares of Alteryx in the second quarter worth about $100,000. Tower Research Capital LLC TRC bought a new position in shares of Alteryx in the second quarter worth about $117,000. The Manufacturers Life Insurance Company raised its stake in shares of Alteryx by 685.3% in the second quarter. The Manufacturers Life Insurance Company now owns 7,853 shares of the company’s stock worth $154,000 after acquiring an additional 6,853 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Alteryx in the first quarter worth about $129,000. Finally, New York State Common Retirement Fund bought a new position in shares of Alteryx in the second quarter worth about $187,000. 16.54% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Alteryx (NYSE:AYX)

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