Alteryx Analysts Slash Their Forecasts After Q2 Results

Alteryx, Inc. AYX reported upbeat second-quarter results, but issued a weak third-quarter guidance

Alteryx reported a second quarter revenue increase of 4% Y/Y to $188 million, above the consensus of $182.2 million. The company reported an adjusted loss per share of $(0.37), better than the consensus of $(0.66).

For the third quarter, Alteryx expects revenues of $208 million - $212 million (-4% to -2% Y/Y, consensus $233.04 million) and adjusted EPS of $(0.08) to $(0.04).

Alteryx shares fell 26.1% to $27.80 in pre-market trading.

These analysts made changes to their price targets on Alteryx following earnings announcement.

• Piper Sandler cut the price target on Alteryx from $68 to $30. Piper Sandler analyst Brent Bracelin downgraded the stock from Overweight to Neutral.
• Rosenblatt lowered the price target on Alteryx from $75 to $60. Rosenblatt analyst Blair Abernethy maintained a Buy rating.
• Needham cut Alteryx price target from $55 to $35. Needham analyst Mike Cikos maintained the stock with a Buy.

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