Alteryx (AYX) PT Raised to $151 at Needham & Company

Needham & Company analyst Jack Andrews raised the price target on Alteryx (NYSE: AYX) to $151.00 (from $140.00) while maintaining a Buy rating.

The analyst commented, "AYX will issue 4Q19 results on Thursday, February 13th after the market close and will host a conference call at 5:00pm EST. In mid January, AYX increased the price of its Server product by 35% (no changes were made to Designer). Although we do not anticipate the pricing changes to impact the 4Q19 results, we believe continued strong demand as well as the relatively higher upfront revenue recognition requirements of Server should help fuel another year of strong growth. As a result, we are slightly raising our FY20 revenue and EPS estimates ahead of the quarter. We believe the self-service tools provided by AYX enable a pivotal function in the Big Data software stack; we reiterate our BUY recommendation and raise our PT to $151."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Apollo Hospitals (APLH:IN) PT Raised to INR8,500 at ICICI Securities
• Indigo Paints (INDIGOPN:IN) PT Raised to INR1,300 at ICICI Securities