UPDATE: JPMorgan Downgrades Alteryx (AYX) to Underweight

April 23, 2020 4:37 AM EDT
Get Alerts AYX Hot Sheet
Price: $81.12 -0.82%

Rating Summary:
    14 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
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(Updated - April 23, 2020 4:40 AM EDT)

(updating comment)

JPMorgan analyst Mark Murphy downgraded Alteryx (NYSE: AYX) from Neutral to Underweight with a price target of $88.00.

The analyst comments "We are downgrading AYX to Underweight from Neutral, although we are maintaining the same PT of $88 based on ~11x EV/CY20E revenue. Alteryx currently trades at 15x EV/CY20E, which is at a premium to the Big Data peers (trading at ~5x), Mid/Large-Cap Category Leaders (at 12x), and SMid-Cap Growth comps (at ~14x). We believe Alteryx’s risk/reward is skewed toward downside at these levels as its alignment to data growth is tempered by potential immediate impact to topline in a less robust economic environment, relatively high product pricing, an evolving competitive landscape, and relatively high exposure to retail and financial services."

For an analyst ratings summary and ratings history on Alteryx click here. For more ratings news on Alteryx click here.

Shares of Alteryx closed at $116.05 yesterday.


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