Alteryx (AYX) PT Raised to $120 at Oppenheimer After Inspire Conference Illustrates Multiple Points Of Differentiation

Oppenheimer analyst Ittai Kidron raised the price target on Alteryx (NYSE: AYX) to $120.00 (from $93.00) while maintaining a Outperform rating after attending the company's Inspire conference where the company announced the beta release of Assisted Modeling, a transparent, code-free environment for building machine-learning models.

The analyst is more positive on the demand environment due to the growing importance of analytics, addition of assisted code-free ML, growing ecosystem of 200+ VARs/100+ Analytics Consultants and SIs and the ability to sustain strong net expansion rates above 130%. He stated "Our survey of 20 customers showed steady YoY expectations for spending increases (vs. last year's survey). More importantly, our conversations reinforced that analytics is growing in importance to daily business processes and Alteryx has a differentiated position that saves customers time (single platform/ease of use) improving efficiency while also addressing areas overlooked by other solutions (documentation, debugging, collaboration, etc.)".

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