Zacks Investment Research Lowers Alteryx, Inc. (AYX) to Hold
Alteryx, Inc. (NYSE:AYX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Alteryx, Inc. provides self-service data analytics software platform. The Company’s product consists of Alteryx Designer, Alteryx Server and Alteryx Analytics Gallery. Alteryx Designer offer data preparation, blending and analytics which could be deployable in the cloud and on premise; Alteryx Server, a secure and scalable product for sharing and running analytic applications in a Web-based environment and Alteryx Analytics Gallery, a cloud-based collaboration offering which allows users to share workflows in a centralized repository. Alteryx, Inc. is headquartered in Irvine, California. “
A number of other research firms have also weighed in on AYX. KeyCorp reissued an “overweight” rating and issued a $24.00 price objective (up from $22.00) on shares of Alteryx in a research report on Monday, June 12th. Cowen and Company restated an “outperform” rating and set a $23.00 target price (up previously from $21.00) on shares of Alteryx in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.44.
Shares of Alteryx (NYSE AYX) traded up 0.05% during midday trading on Tuesday, reaching $20.40. 348,748 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $21.14 and its 200-day moving average is $19.39. Alteryx has a 12-month low of $14.61 and a 12-month high of $24.07. The stock’s market cap is $1.20 billion.
Alteryx (NYSE:AYX) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The firm had revenue of $30.30 million for the quarter, compared to analysts’ expectations of $29.33 million. The firm’s revenue was up 52.3% on a year-over-year basis. On average, equities analysts expect that Alteryx will post ($0.33) EPS for the current year.
In other news, major shareholder Qualified Master Fund L. Abdiel purchased 2,000,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $21.21 per share, for a total transaction of $42,420,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel purchased 60,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $18.98 per share, with a total value of $1,138,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,673,272 shares of company stock worth $56,572,529 and sold 7,700,000 shares worth $155,848,000.
A number of large investors have recently made changes to their positions in the stock. ICONIQ Capital LLC bought a new position in Alteryx in the first quarter worth approximately $52,298,000. Capital World Investors raised its position in Alteryx by 16.9% during the 2nd quarter. Capital World Investors now owns 1,444,433 shares of the company’s stock valued at $28,195,000 after purchasing an additional 209,108 shares in the last quarter. Abdiel Capital Advisors LP bought a new stake in Alteryx during the 2nd quarter valued at $24,460,000. Vanguard Group Inc. raised its position in Alteryx by 2,833.6% during the 2nd quarter. Vanguard Group Inc. now owns 586,718 shares of the company’s stock valued at $11,453,000 after purchasing an additional 566,718 shares in the last quarter. Finally, FMR LLC bought a new stake in Alteryx during the 1st quarter valued at $6,400,000. 16.64% of the stock is currently owned by institutional investors.
Alteryx, Inc is a United States-based provider of self-service data analytics software. The Company offers various products, such as Alteryx Designer, Alteryx Server and Alteryx Analytics Gallery. Alteryx Designer is a repeatable workflow for self-service data analytics. Alteryx Designer allows data analysts by combining data preparation, data blending, and analytics-predictive, statistical and spatial-using the same user interface.
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