Alteryx price target lowered to $50 from $55 at Oppenheimer

Oppenheimer analyst Ittai Kidron lowered the firm’s price target on Alteryx to $50 from $55 and keeps an Outperform rating on the shares. The firm notes Alteryx reported better-than-anticipated Q3 revenue/ARR/EPS with solid KPIs off a low bar after a sales mis-execution last quarter. Of the ten deals that slipped last quarter, Alteryx closed half in Q3 and is pursuing the rest. It is also improving operational processes and adding better pipeline/deal qualification assessment. Oppenheimer views the results along with the recent additions to N. America sales/GTM leadership as an early sign of improving rigor in the sales organization, which can pay dividends over time.