In a report released today, Brent Bracelin from KeyBanc maintained a Buy rating on Alteryx Inc (AYX), with a price target of $123. The company’s shares opened today at $102.13, close to its 52-week high of $107.08.
Bracelin wrote:
“We attended Alteryx’s annual user conference in Nashville this week, which hosted over 4,500 users, partners, and consultants. We walk away increasingly positive that G2K customer expansions remain strong as productivity benefits, regardless of industry, are compelling enough to spur seat growth beyond multiple hundreds of licenses. We are raising our estimates and price target on strong demand drivers, and new LT margin targets that reinforce an optimistic view on user economics as AYX scales.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 30.2% and a 75.9% 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 Strong Buy with an average price target of $106.38, implying a 4.2% upside from current levels. In a report issued on June 7, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $111 price target.
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The company has a one-year high of $107.08 and a one-year low of $34.80. Currently, Alteryx Inc has an average volume of 1.24M.
Based on the recent corporate insider activity of 147 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.
