Alteryx (NYSE:AYX) Shares Gap Up After Better-Than-Expected Earnings

Alteryx, Inc. (NYSE:AYXGet Rating) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $50.57, but opened at $56.90. Alteryx shares last traded at $60.70, with a volume of 31,010 shares traded.

The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.14. Alteryx had a negative return on equity of 46.53% and a negative net margin of 42.51%. During the same quarter last year, the company posted ($0.49) earnings per share.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Cowen raised their price objective on Alteryx from $75.00 to $90.00 in a research note on Wednesday, May 4th. Rosenblatt Securities reissued a “maintains” rating on shares of Alteryx in a research note on Wednesday. FBN Securities assumed coverage on Alteryx in a research note on Monday, May 23rd. They set an “outperform” rating and a $80.00 price objective for the company. Citigroup raised their price objective on Alteryx from $86.00 to $95.00 in a research note on Wednesday, May 4th. Finally, Loop Capital raised their price objective on Alteryx from $60.00 to $67.00 in a research note on Wednesday, May 4th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alteryx currently has an average rating of “Moderate Buy” and a consensus target price of $79.36.

Institutional Trading of Alteryx

A number of hedge funds have recently modified their holdings of the business. Gofen & Glossberg LLC IL raised its holdings in shares of Alteryx by 8.1% during the first quarter. Gofen & Glossberg LLC IL now owns 7,662 shares of the company’s stock worth $548,000 after acquiring an additional 575 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Alteryx by 3.0% during the fourth quarter. Rhumbline Advisers now owns 54,006 shares of the company’s stock worth $3,267,000 after acquiring an additional 1,571 shares in the last quarter. Wishbone Management LP purchased a new stake in shares of Alteryx during the fourth quarter worth $49,610,000. Vitruvian Partners LLP raised its holdings in shares of Alteryx by 63.3% during the first quarter. Vitruvian Partners LLP now owns 819,547 shares of the company’s stock worth $49,583,000 after acquiring an additional 317,826 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in shares of Alteryx during the fourth quarter worth $6,583,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Alteryx Trading Up 19.0 %

The company has a debt-to-equity ratio of 3.43, a current ratio of 1.71 and a quick ratio of 1.71. The company has a fifty day moving average of $51.13 and a 200-day moving average of $57.84. The firm has a market capitalization of $4.11 billion, a PE ratio of -16.58 and a beta of 0.74.

About Alteryx

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Alteryx, Inc operates in analytic process automation business in the Asia-Pacific, Europe, the Middle East, Africa, Latin America, and internationally. The company's analytics platform enables organizations to enhance business outcomes and the productivity of their business analysts, data scientists, citizen data scientists, and data engineers.

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