Oppenheimer Believes Alteryx Inc (AYX) Won’t Stop Here


Oppenheimer analyst Ittai Kidron maintained a Buy rating on Alteryx Inc (AYX) yesterday and set a price target of $93. The company’s shares closed yesterday at $87.51, close to its 52-week high of $91.07.

Kidron noted:

“Alteryx delivered a strong qtr above expectations and encouraging rev. guidance. Overall execution (sales/product) was good, customer quality continues to improve, and net expansion metrics are healthy (134% vs. 129% YoY and 132% QoQ). Despite the broad base of positives, the lack of incremental EPS leverage in guidance/ aggressive front-loaded investment could result in a lukewarm near-term response to earnings given the current valuation. We would view this as an opportunity for long-term buyers. We see a long period of expansion ahead as Alteryx leverages low customer penetration, new use cases, the growing importance of data/ML/automation to business workflow, and multiple growth levers (sales force expansion, evolving go- to-market efforts, international growth, new products, etc.).”

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 31.8% and a 73.9% success rate. Kidron covers the Technology sector, focusing on stocks such as Citrix Systems, Smartsheet Inc, and New Relic Inc.

Alteryx Inc has an analyst consensus of Moderate Buy, with a price target consensus of $85.56, implying a -2.2% downside from current levels. In a report released yesterday, KeyBanc also maintained a Buy rating on the stock with a $100 price target.

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Based on Alteryx Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $16.54 million. In comparison, last year the company had a GAAP net loss of $5.19 million.

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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