Cowen Raises Alteryx (AYX) Price Target to $76.00

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Alteryx (NYSE:AYX) had its target price upped by equities researchers at Cowen from $64.00 to $76.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Cowen’s target price indicates a potential upside of 31.31% from the company’s current price.

Several other analysts have also issued reports on the company. Citigroup set a $81.00 target price on Alteryx and gave the stock a “buy” rating in a report on Tuesday, September 18th. Needham & Company LLC increased their target price on Alteryx to $65.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Zacks Investment Research raised Alteryx from a “sell” rating to a “hold” rating in a report on Monday, September 24th. KeyCorp increased their target price on Alteryx from $40.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 20th. Finally, Oppenheimer increased their target price on Alteryx from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Alteryx presently has an average rating of “Buy” and a consensus price target of $66.45.

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

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

In other Alteryx news, major shareholder Abdiel Capital Management, Llc acquired 29,855 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was acquired at an average cost of $42.53 per share, for a total transaction of $1,269,733.15. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Scott Jones sold 4,166 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $43.98, for a total value of $183,220.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 194,855 shares of company stock valued at $9,551,233 and have sold 3,390,485 shares valued at $187,381,390. 39.01% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AYX. NumerixS Investment Technologies Inc bought a new stake in shares of Alteryx during the 2nd quarter worth $130,000. Bessemer Group Inc. bought a new stake in shares of Alteryx during the 3rd quarter worth $140,000. Truvestments Capital LLC bought a new stake in shares of Alteryx during the 3rd quarter worth $169,000. State Treasurer State of Michigan bought a new stake in shares of Alteryx during the 3rd quarter worth $203,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Alteryx during the 3rd quarter worth $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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