Alteryx, Inc. (NYSE:AYX) has garnered a “Moderate Buy” consensus recommendation from thirteen brokerages, as reported by Bloomberg Ratings. Out of these, four analysts have given the stock a hold rating, while nine have assigned a buy rating to the company. The average 12-month price target among these brokerages stands at $53.17.
On September 27, 2023, AYX stock opened at $36.29. The market capitalization of the stock is $2.58 billion, with a price-to-earnings ratio of -8.03 and a beta value of 0.51. Alteryx’s 52-week low and high are recorded at $27.92 and $70.63 respectively. Over the past fifty days, the stock’s moving average was $34.06, while its two-hundred-day moving average settled at $41.75.
Alteryx serves in the analytic process automation business across various regions such as Asia-Pacific, Europe, the Middle East, Africa, North America, and internationally. The company’s analytics platform aids organizations in improving their business outcomes and enhancing productivity for their business analysts, data scientists, citizen data scientists, and data engineers.
In its latest earnings announcement on August 7th, Alteryx (NYSE:AYX) reported an earnings per share (EPS) of ($1.29) for the quarter which fell short of analysts’ consensus estimate of ($1.27) by ($0.02). During this quarter, the company generated revenue of $188 million compared to analysts’ expectations of $182.15 million. Alteryx experienced a negative net margin of 34.87% along with a negative return on equity of 172%. Research analysts predict that for the current fiscal year Alteryx will post earnings per share (EPS) amounting to -2.
In conclusion, Alteryx, Inc. has received a “Moderate Buy” rating from brokerages, with a consensus 12-month price target of $53.17. Although it reported earnings slightly below estimates for the last quarter, the company’s analytics platform and its ability to enhance business outcomes have garnered positive attention from analysts. Investors may consider conducting further research on the company before making any investment decisions.
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Mixed Opinions and Institutional Moves Surround Alteryx: A Comprehensive Analysis
In recent months, Alteryx, a prominent data analytics company, has been the subject of much speculation and analysis in the financial world. Various research firms have weighed in on the stock’s performance and future prospects, eliciting mixed opinions.
Wedbush, one such research firm, recently lowered their target price for Alteryx from $60.00 to $45.00 while maintaining a “neutral” rating on the stock. Their report, published on August 8th, highlighted concerns about the company’s outlook.
Similarly, Bank of America also reduced their target price for Alteryx from $70.00 to $64.00 in a research report released on the same day. This downward revision reflects reservations about Alteryx’s growth potential and market positioning.
In contrast, William Blair initiated coverage of Alteryx with a “market perform” rating on August 31st. While not strongly optimistic about the company’s prospects, this rating suggests that they anticipate a stable performance.
On a more positive note, Oppenheimer maintained an “outperform” rating for Alteryx but revised their price target down to $55.00 from $65.00 in their report issued August 8th. This indicates relative confidence in the company’s ability to outperform expectations despite some challenges.
Lastly, Needham & Company LLC raised their target price for Alteryx from $35.00 to $42.00 and gave it a “buy” rating in a research report released on September 7th. This bullish stance suggests that they see potential for growth and value in the stock.
Aside from these research firm insights, institutional investors and hedge funds have made notable moves regarding their holdings of Alteryx shares as well.
For instance, Hawk Ridge Capital Management LP acquired a significant stake in Alteryx during the second quarter valued at approximately $120 million. This demonstrates confidence in the company’s long-term prospects.
Similarly, Marshall Wace LLP, the hedge fund, significantly increased their share ownership of Alteryx by over 500% during the second quarter. This move indicates a belief in the future success of the company and its ability to generate returns.
Assenagon Asset Management S.A. also ramped up their holdings of Alteryx shares by over 470% in the first quarter. Their significant increase in ownership suggests optimism about Alteryx’s potential and its ability to deliver value for investors.
Capital World Investors, another major institutional investor, raised their stake in Alteryx by 11.2% during the first quarter. Their decision demonstrates continued confidence in the company’s performance and aligns with their long-term investment strategy.
Ardevora Asset Management LLP saw remarkable growth in their ownership of Alteryx shares during the second quarter, representing a surge of over 120%. This substantial increase signals that they see significant upside potential and believe the stock is undervalued.
With more than 70% of outstanding shares owned by institutional investors and hedge funds, Alteryx enjoys substantial support from prominent market participants. However, it is worth noting that this level of ownership also exposes it to fluctuations resulting from changes in sentiment or investment strategies among these entities.
As with any investment, analyzing multiple viewpoints and assessing a range of factors is crucial when considering an investment in a particular stock. The research firm ratings and institutional actions mentioned herein provide insight into Alteryx’s current situation but should not be considered as definitive indicators of future performance or as a guarantee of results.
