Bank of America Corporation Initiates Coverage on Alteryx, Inc. (AYX)
Equities research analysts at Bank of America Corporation began coverage on shares of Alteryx, Inc. (NYSE:AYX) in a report released on Monday. The brokerage set a “buy” rating and a $26.00 price target on the stock. Bank of America Corporation’s price target suggests a potential upside of 23.05% from the company’s current price.
AYX has been the subject of a number of other reports. Zacks Investment Research upgraded Alteryx from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, September 5th. KeyCorp reiterated a “buy” rating and issued a $24.00 price target on shares of Alteryx in a research note on Friday, September 22nd. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Alteryx in a research report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Alteryx currently has an average rating of “Buy” and an average price target of $21.00.
Shares of Alteryx (AYX) opened at 21.13 on Monday. Alteryx has a 1-year low of $14.61 and a 1-year high of $24.07. The stock has a 50 day moving average price of $20.62 and a 200 day moving average price of $19.63. The firm’s market capitalization is $1.24 billion.
Alteryx (NYSE:AYX) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $30.30 million during the quarter, compared to the consensus estimate of $29.33 million. The company’s revenue for the quarter was up 52.3% on a year-over-year basis. Equities research analysts anticipate that Alteryx will post ($0.33) earnings per share for the current fiscal year.
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In related news, major shareholder Qualified Master Fund L. Abdiel bought 166,168 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average cost of $22.06 per share, with a total value of $3,665,666.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel purchased 60,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were acquired 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 ninety days, insiders have purchased 2,565,772 shares of company stock valued at $54,463,079 and have sold 7,700,000 shares valued at $155,848,000.
Institutional investors have recently modified their holdings of the business. Nationwide Fund Advisors acquired a new stake in Alteryx during the 2nd quarter worth about $100,000. Tower Research Capital LLC TRC acquired a new stake in Alteryx during the 2nd quarter worth about $117,000. The Manufacturers Life Insurance Company grew its holdings in Alteryx by 685.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,853 shares of the company’s stock worth $154,000 after acquiring an additional 6,853 shares during the period. SG Americas Securities LLC acquired a new stake in Alteryx during the 1st quarter worth about $129,000. Finally, New York State Common Retirement Fund acquired a new stake in Alteryx during the 2nd quarter worth about $187,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.
Alteryx Company Profile
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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