Piper Sandler downgraded Alteryx to Underweight from Neutral with an unchanged price target of $30. The analyst “proactively” reduced 2024 growth estimates and price targets across the cloud applications and analytics group saying near-term demand stabilization may not support “overly optimistic” consensus growth rates While sector valuations and growth could be nearing a bottom, Piper has less confidence in growth acceleration potential, the analyst tells investors in a research note.
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