Alteryx price target lowered to $48.25 from $50 at Piper Sandler

Piper Sandler lowered the firm’s price target on Alteryx to $48.25 from $50 and keeps a Neutral rating on the shares. Nonetheless, Piper enters 2024 with a higher degree of optimism for application software based on stabilizing demand fundamentals after two years of moderation, a declining interest rate backdrop sparking greater appetite for growth stocks, new secular tailwinds for cloud and data driven by a generational shift to AI, CIO survey optimism showing accelerating cloud and AI spending intentions, and favorable risk-reward scenarios on 2025 metrics.