Alteryx Inc Receives a Buy from KeyBanc

By Carrie Williams

In a report released yesterday, Brent Bracelin from KeyBanc reiterated a Buy rating on Alteryx Inc (NYSE: AYX), with a price target of $22. The company’s shares closed yesterday at $18.86.

Bracelin noted:

“We advise small-cap growth investors to build positions in AYX with 17% upside to our $22 target and 38% upside to our $26 bull case. Bringing complex models to a worfklow with just a click. The most underappreciated upside lever for Alteryx, in our view, is the potential to become a platform for data science. The Company already offers a library of 30+ drag- and-drop tools for predictive analytics, where users can drag complex formulas, such as Forest models, right into the workflow.”

According to TipRanks.com, Bracelin is a 5-star analyst with an average return of 9.4% and a 67.5% success rate. Bracelin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Riverbed Technology, and Medidata Solutions.

Alteryx Inc has an analyst consensus of Strong Buy, with a price target consensus of $19.71.

The company has a one year high of $20.43 and a one year low of $14.61. Currently, Alteryx Inc has an average volume of 469.7K.

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Alteryx, Inc. provides platform for strategic analytics. It offers its services with a single workflow for data blending, analytics, and reporting. Its workflow allows the seamless blending of internal, third party and cloud-based data, and simple analysis using prebuilt tools for spatial and predictive analytics. The firm’s platform serves the automotive, commercial real estate, restaurants and entertainment, consumer goods, retail franchising, and telecommunications industries. The company was founded by Dean A. Stoecker, Olivia Duane-Adams, and Edward P. Harding Jr in 2010 and is headquartered in Irvine, CA.