Alteryx (AYX) Sets New 1-Year High on Strong Earnings

Alteryx Inc (NYSE:AYX) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $34.33 and last traded at $34.02, with a volume of 1361509 shares changing hands. The stock had previously closed at $29.52.

The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. Alteryx had a negative net margin of 18.68% and a negative return on equity of 19.62%. The company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $35.89 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s quarterly revenue was up 54.6% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the stock. Cowen lifted their price target on shares of Alteryx from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America lifted their price target on shares of Alteryx from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp reiterated an “overweight” rating and issued a $35.00 price target (up from $29.00) on shares of Alteryx in a research report on Thursday. Zacks Investment Research upgraded shares of Alteryx from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, January 9th. Finally, Goldman Sachs Group downgraded shares of Alteryx from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Alteryx presently has a consensus rating of “Buy” and an average target price of $25.80.

In other news, major shareholder Qualified Master Fund L. Abdiel acquired 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average cost of $25.54 per share, with a total value of $1,915,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dean Stoecker sold 20,000 shares of Alteryx stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $25.87, for a total transaction of $517,400.00. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock worth $4,196,200 over the last three months.

A number of large investors have recently made changes to their positions in AYX. Nationwide Fund Advisors acquired a new position in Alteryx in the second quarter valued at $100,000. The Manufacturers Life Insurance Company grew its holdings in Alteryx by 685.3% in 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 last quarter. New York State Common Retirement Fund bought a new stake in Alteryx in the 2nd quarter worth $187,000. Metropolitan Life Insurance Co. NY bought a new stake in Alteryx in the 4th quarter worth $192,000. Finally, Invictus RG bought a new stake in Alteryx in the 3rd quarter worth $202,000. 31.57% of the stock is currently owned by institutional investors and hedge funds.

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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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