In a report released yesterday, Brent Bracelin from KeyBanc upgraded Alteryx Inc (NYSE: AYX) to Buy, with a price target of $40. The company’s shares closed on Friday at $30.85.
Bracelin wrote:
“We are establishing a $40 PT based on the assumption that a compelling five-year growth opportunity warrants a premium. This valuation assumes that the current 2018 EV/S of 9.6x compresses slightly in the coming year to 9.5x, but remains consistent with high- growth peers with an average NTM EV/S of 9.5x.”
According to TipRanks.com, Bracelin is a top 100 analyst with an average return of 20.5% and a 74.6% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
Currently, the analyst consensus on Alteryx Inc is Strong Buy and the average price target is $40.33, representing a 30.7% upside.
In a report issued on May 10, Needham also maintained a Buy rating on the stock with a $43 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $39.21 and a one-year low of $17.74. Currently, Alteryx Inc has an average volume of 774K.
Based on the recent corporate insider activity of 35 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.
