Alteryx Inc (AYX) Gets a Buy Rating from Oppenheimer


Oppenheimer analyst Ittai Kidron maintained a Buy rating on Alteryx Inc (AYX) today and set a price target of $65. The company’s shares closed yesterday at $58.52.

Kidron observed:

“We’re positive on Alteryx and view it as one of our top 2019 picks. We see several catalysts ahead, including new customer growth, international expansion, and product advancement (Promote, Connect, Visualytics). We also highlight that ~1,250-1,750 existing customers have been added over the last 4-6 quarters (29%-41% of the total). This base is just now reaching the normal time frame when user/product expansion starts to be captured. Past cohorts (1.7x-1.9x in year-2) and steady net retention (8 straight quarters >130%) suggest a strong base for more growth. Meanwhile, consensus models a significant drop in implied net retention—making for achievable targets even if market conditions soften. Overall, we’re bullish, looking for more upside in CY19 as Alteryx gains momentum with citizen data scientists.”

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 24.5% and a 64.7% success rate. Kidron covers the Technology sector, focusing on stocks such as Citrix Systems, New Relic Inc, and Nutanix Inc.

Alteryx Inc has an analyst consensus of Strong Buy, with a price target consensus of $71.78.

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Based on Alteryx Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $244K. In comparison, last year the company had a GAAP net loss of $1.54 million.

Based on the recent corporate insider activity of 109 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AYX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Alteryx, Inc. engages in the provision of self-service data analytics software. Its subscription-based platform allows organizations to prepare, blend, and analyze data from a multitude of sources and benefit from data-driven decisions.

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