Oppenheimer Increases Alteryx (NYSE:AYX) Price Target to $120.00

Alteryx (NYSE:AYX) had its price objective lifted by equities research analysts at Oppenheimer from $93.00 to $120.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 11.70% from the company’s current price.

AYX has been the topic of a number of other research reports. Bank of America restated a “buy” rating and set a $105.00 target price (up previously from $90.00) on shares of Alteryx in a research note on Thursday, May 2nd. Wedbush raised their target price on shares of Alteryx from $76.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. JMP Securities raised their target price on shares of Alteryx from $84.00 to $96.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 2nd. Zacks Investment Research upgraded shares of Alteryx from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Wednesday, May 8th. Finally, Goldman Sachs Group began coverage on shares of Alteryx in a research note on Friday, June 7th. They set a “buy” rating and a $111.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $97.92.

NYSE AYX traded up $3.32 on Monday, reaching $107.43. 24,279 shares of the stock were exchanged, compared to its average volume of 1,415,752. Alteryx has a one year low of $34.80 and a one year high of $107.08. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of -535.25, a PEG ratio of 44.09 and a beta of 1.06. The firm’s 50-day moving average price is $90.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.58.

Alteryx (NYSE:AYX) last released its earnings results on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. Alteryx had a negative net margin of 2.84% and a negative return on equity of 4.90%. The company had revenue of $76.02 million for the quarter, compared to analysts’ expectations of $71.41 million. During the same quarter last year, the business earned ($0.01) EPS. The firm’s revenue was up 51.0% compared to the same quarter last year. As a group, research analysts predict that Alteryx will post 0.17 earnings per share for the current year.

In other news, Director Jeff Horing sold 37,148 shares of Alteryx stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $99.29, for a total transaction of $3,688,424.92. Following the sale, the director now owns 6,081 shares in the company, valued at $603,782.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles Cory sold 5,714 shares of Alteryx stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $88.55, for a total transaction of $505,974.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,364 shares of company stock worth $11,668,505. Company insiders own 19.82% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group boosted its stake in Alteryx by 285.3% during the first quarter. Rehmann Capital Advisory Group now owns 2,354 shares of the company’s stock worth $197,000 after buying an additional 1,743 shares during the period. Marshall Wace LLP purchased a new position in Alteryx during the first quarter worth $6,222,000. Golden State Wealth Management LLC purchased a new position in Alteryx during the first quarter worth $226,000. ICONIQ Capital LLC boosted its stake in Alteryx by 324.6% during the first quarter. ICONIQ Capital LLC now owns 1,819,965 shares of the company’s stock worth $152,640,000 after buying an additional 1,391,365 shares during the period. Finally, Trexquant Investment LP purchased a new position in Alteryx during the first quarter worth $1,180,000. Hedge funds and other institutional investors own 64.24% of the company’s stock.

Alteryx Company Profile

Alteryx, Inc operates a self-service data analytics software platform that enables organizations to enhance business outcomes and the productivity of their business analysts, data scientists, and citizen data scientists worldwide. Its software platform includes Alteryx Designer, a data profiling, preparation, blending, and analytics product used to create visual workflows or analytic processes; Alteryx Server, a server-based product for scheduling, sharing, and running analytic processes and applications in a Web-based environment; Alteryx Connect, a collaborative data exploration platform for discovering information assets and sharing recommendations across the enterprise; and Alteryx Promote, an analytics model management product for data scientists and analytics teams to build, manage, monitor, and deploy predictive models into real-time production applications.

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