Alteryx (AYX) Upgraded 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 research report issued to clients and investors on Tuesday, January 9th. The brokerage currently has a $30.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 6.12% from the company’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. “

Other analysts have also issued research reports about the company. KeyCorp reaffirmed a “buy” rating and issued a $24.00 price target on shares of Alteryx in a research note on Friday, September 22nd. Bank of America began coverage on Alteryx in a research note on Monday, October 16th. They issued a “buy” rating and a $26.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $22.50.

Shares of Alteryx (AYX) traded up $0.18 during midday trading on Tuesday, reaching $28.27. 686,713 shares of the company’s stock were exchanged, compared to its average volume of 355,671. Alteryx has a twelve month low of $14.61 and a twelve month high of $29.16.

Alteryx (NYSE:AYX) last issued its earnings results 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. 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 analysts’ expectations of $32.06 million. During the same quarter last year, the business earned ($0.07) earnings per share. The business’s revenue was up 52.1% on a year-over-year basis. equities research analysts predict that Alteryx will post -0.33 EPS for the current fiscal year.

In other news, SVP Christopher M. Lal sold 15,000 shares of Alteryx stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $25.85, for a total value of $387,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dean Stoecker sold 20,000 shares of Alteryx stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $25.87, for a total value of $517,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,470 shares of company stock valued at $5,209,132.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Alteryx in the 2nd quarter worth about $522,000. TIAA CREF Investment Management LLC bought a new stake in Alteryx in the 2nd quarter worth about $477,000. Engineers Gate Manager LP bought a new stake in Alteryx in the 3rd quarter worth about $945,000. JPMorgan Chase & Co. increased its holdings in Alteryx by 262.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 194,300 shares of the company’s stock worth $3,970,000 after buying an additional 140,700 shares in the last quarter. Finally, Capital World Investors increased its holdings in Alteryx by 16.9% in the 2nd quarter. Capital World Investors now owns 1,444,433 shares of the company’s stock worth $28,195,000 after buying an additional 209,108 shares in the last quarter. Institutional investors own 28.29% of the company’s stock.

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About Alteryx

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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