Alteryx gains after Piper Sandler upgrades on revenue potential

Alteryx

15/12/2023 10:23

** Shares of analytics automation firm Alteryx  AYX.N  gain
1.4% to $48.50 premarket after Piper Sandler upgrades to
"neutral" from "underweight" 
    ** Brokerage's 2024 CIO survey shows increasing spending
intentions on analytics category, that, with improving web
traffic, could improve co's ARR in 2024
    ** Reuters reported on Thursday that a PE consortium was in
advanced talks to buyout AYX for ~$5 bln, including debt, citing
people familiar with the matter
    ** Piper Sandler says a take-private deal would "make sense"
given co's leadership aspired to consolidate the highly
fragmented analytics industry
    ** Brokerage raises PT on AYX stock to $50 from $32, an
upside of 4.6% to co's last close
    ** Of 19 analysts covering stock, 10 say "buy" or higher and
nine say "hold"; median PT at $47 - LSEG data 
    ** Stock down 5.6% YTD as of last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))