Alteryx down after brokerages cut PT post Q2 results

Alteryx

08/08/2023 11:57

**  Shares of data analytics software firm Alteryx Inc
 AYX.N  fall 26% to $27.83 premarket
    ** At least six brokerages cut PT on AYX after co forecast
Q3 revenue below estimates on Monday 
    ** Co forecast Q3 revenue in $208 mln - $212 mln range,
below Street estimates of $220.2 mln, as per Refinitiv data
    ** Co reported Q2 GAAP net loss of $120 mln vs. $107 mln yr
earlier, on higher sales and marketing expenses
    ** Twelve of 18 brokerages rate "buy" or higher and 6
"hold"; median PT is $62 - Refinitiv
    ** As of last close, shares down 25.75% YTD

             Brokerage           
                                 
                         New PT  Old PT
                                 
                                 
 Wedbush                 $45     $60
 TD Cowen                $42     $65
 Citigroup               $55     $73
 J.P. Morgan             $40     $55
 BofA Global             $64     $70
   Research                      
 Piper Sandler           $30     $68
 
 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))