Alteryx Inc. (NYSE:AYX) closed Wednesday at $60.20 per share, up from $50.57 a day earlier. While Alteryx Inc. has overperformed by 19.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AYX fell by -23.59%, with highs and lows ranging from $81.30 to $43.45, whereas the simple moving average fell by -0.88% in the last 200 days.
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On May 23, 2022, FBN Securities started tracking Alteryx Inc. (NYSE: AYX) recommending Outperform. A report published by Rosenblatt on February 16, 2022, Reiterated its previous ‘Buy’ rating for AYX. Piper Sandler also reiterated AYX shares as ‘Overweight’, quoting a target price of $87 on the company’s shares in a report dated February 16, 2022. Needham Reiterated the rating as Buy on February 16, 2022, but set its price target from $97 to $66. Loop Capital resumed its ‘Hold’ rating for AYX, as published in its report on February 16, 2022. JP Morgan’s report from February 16, 2022 suggests a price prediction of $70 for AYX shares, giving the stock a ‘Neutral’ rating. JMP Securities also rated the stock as ‘Mkt Outperform’.
Analysis of Alteryx Inc. (AYX)
Further, the quarter-over-quarter increase in sales is 32.90%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Alteryx Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -66.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and AYX is recording an average volume of 769.94K. On a monthly basis, the volatility of the stock is set at 5.19%, whereas on a weekly basis, it is put at 6.46%, with a gain of 25.68% over the past seven days. Furthermore, long-term investors anticipate a median target price of $76.02, showing growth from the present price of $60.20, which can serve as yet another indication of whether AYX is worth investing in or should be passed over.
How Do You Analyze Alteryx Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 86.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AYX shares?
The recent increase in stakes in AYX appears to be a result of several institutional investors and hedge funds increasing their positions. Capital Research & Management Co’s position in AYX has increased by 11.16% in the first quarter. The company now owns 8,029,902 shares of the stock, with a value of $388.81 million, following the purchase of 806,018 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in AYX during the first quarter, upping its stake by 0.42%. During the last quarter, the company picked up 22,860 additional shares for a total stake of worth $263.54 million, bringing number of shares owned by the company to 5,442,737.
During the first quarter, Bares Capital Management, Inc. added a 120,600 position in AYX. Mackenzie Financial Corp. purchased an additional 91182.0 shares in the last quarter, increasing its holdings by 3.83%, now holding 2.47 million shares worth $119.77 million. At the end of the first quarter, BlackRock Fund Advisors decreased its AYX holdings by -2.33% and now holds 2.4 million AYX shares valued at $116.36 million with the lessened 57389.0 shares during the period. AYX shares are owned by institutional investors to the tune of 86.60% at present.
