Alteryx Inc (AYX) Receives a Rating Update from a Top Analyst


In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Alteryx Inc (AYX), with a price target of $100. The company’s shares closed yesterday at $87.51, close to its 52-week high of $91.07.

Bracelin wrote:

“We are encouraged by improving expansion metrics and greater penetration of the G2K where Alteryx landed 40 new G2K wins this quarter, up 82% y/y. We are raising revenue estimates and increasing our price target to $100 from $85 on a DCF applying 36x CY23 EV/FCF, discounted back 15%.”

According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 29.8% and a 78.2% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Coupa Software Inc, and Salesforce.com.

Currently, the analyst consensus on Alteryx Inc is a Moderate Buy with an average price target of $83.89.

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Alteryx Inc’s market cap is currently $5.39B and has a P/E ratio of 1203.71. The company has a Price to Book ratio of 17.85.

Based on the recent corporate insider activity of 131 insiders, corporate insider sentiment is negative on the stock.

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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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