TD Cowen analyst J. Derrick Wood downgraded Alteryx to Market Perform from Outperform with a price target of $48.25, up from $47, after the company agreed to be acquired by Clearlake Capital Group and Insight Partners for $48.25 per share. While the take-out valuation seems “undemanding,” the firm doesn’t expect a better offer to surface given that reports have suggested Alteryx had been running a sales process for many months, the analyst tells investors.
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