Alteryx jumps on Reuters report software company exploring sale

Alteryx

06/09/2023 19:38

** Shares of data analytics software company Alteryx  AYX.N 
up 15% at $35 
    ** Co has been working with an investment bank to explore a
potential sale after attracting takeover interest, Reuters
reported, citing sources
    ** Competition from companies like Microsoft  MSFT.O  and
Oracle  ORCL.N  have suppressed Alteryx's valuation and made it
an acquisition target
    ** AYX's shares had lost almost half their value in the last
12 months prior to news of its exploring a sale
    ** AYX is being advised by investment bank Qatalyst Partners
on its discussions with potential acquirers, which include
private equity firms
    ** 10 of 19 brokerages rate the stock "buy" or higher, 9
"hold"; their median PT is $49.50
    ** Up to last close, stock had fallen ~30% YTD

 (Reporting by Zaheer Kachwala in Bengaluru)
 ((Zaheer.Kachwala@thomsonreuters.com))