Alteryx price target lowered to $75 from $86 at Rosenblatt

Rosenblatt analyst Blair Abernethy lowered the firm’s price target on Alteryx to $75 from $86 and keeps a Buy rating on the shares. Alteryx reported Q1 results that met its guidance, but saw weakness in the late quarter and provided a below street consensus Q2 revenue outlook, the analyst says. Rosenblatt expects the stock to react negatively in the weaker selling environment in Q2, but believes the longer-term value of the ARR business and large market opportunity remain intact.