GMBStaff

 3 Sep 23

tl;dr

<p>Alteryx (NYSE:AYX) shares slipped in pre-market trading as William Blair initiated coverage on the software company. While Alteryx is a leading analytics platform, the firm noted execution challenges clouding the outlook. Analyst Arjun Bhatia gave Alteryx shares a market perform rating, cit...

Alteryx (NYSE:AYX) shares slipped in pre-market trading on Thursday as investment firm William Blair initiated coverage on the software company. While Alteryx is considered a leading analytics platform, the firm noted that its execution challenges are clouding the outlook. Analyst Arjun Bhatia gave Alteryx shares a market perform rating and stated that the company's execution problems could take a few months to resolve. Bhatia also mentioned a large renewal cycle coming in the back half of 2023, which could result in disappointing expansion activity given the uncertain environment and changes to the sales teams. Alteryx is also facing increased competition from full-stack vendors like Microsoft (MSFT) and Oracle (ORCL), which Bhatia sees as a bigger competitive risk than other data and analytics companies. Despite the concerns, the company is expected to benefit from the long-term trend of data fragmentation and has other potential positives such as a cloud version of its flagship product and its generative AI platform, Alteryx AiDIN.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 22 Nov 24
 22 Nov 24
 22 Nov 24