Alteryx price target raised to $42 from $35 at Needham

Needham analyst Mike Cikos raised the firm’s price target on Alteryx to $42 from $35 and keeps a Buy rating on the shares after yesterday’s Reuters report that the company is working with an investment bank to explore potential sale. Alteryx is an attractive asset given its nearly 50% penetration of the Global 2000, 120% Net Expansion, and scaling operating margins, and the company has long been viewed by investors as an acquisition target, but an acquisition price is likely the largest hurdle to achieving a deal, the analyst tells investors in a research note.