Alteryx initiated with a Neutral at DA Davidson

DA Davidson initiated coverage of Alteryx with a Neutral rating and $40 price target. DA Davidson views view Alteryx as a quality standalone cloud analytics and data science offering, in a challenging market being drawn to the largest platforms, but feels that the introduction of data fabric as a software paradigm has resulted in a transformation of the modern data stack, that values the unification of analytics capabilities, challenging Alteryx’s longer-term growth prospects, the analyst tells investors in a research note. The firm believes ALteryx may be an attractive private equity acquisition target.