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“Alteryx a new best idea short at Hedgeye”
Don’t miss hopping on.
Looks like analysts agree, as many barely moved their price targets:
Alteryx price target lowered to $195 from $216 at Goldman Sachs, Buy
Alteryx price target lowered to $185 from $195 at Piper Sandler, Overweight
Alteryx price target lowered to $180 from $190 at Oppenheimer, Outperform
Alteryx price target lowered to $172 from $192 at Needham, Buy
My reasons for adding:
1. As noted in article, company always guides very conservative (just like they did the previous quarter, and then beats). So it fully makes sense for them to do so again given we are still in the midst of the pandemic (and even with their conservative forecast as still projecting to grow their revenues). With ARR projected to grow 30%.
2. They are best in breed in their field with long term multi year/decade secular tailwinds at their back. They used this time to further enhance and build out their APA platform. Which will allow them to hit the ground running as the virus issues get better resolved. This will allow a rapid re-acceleration of revenues. When this occurs their will be little time to get on board (Without missing a quick 25-50% upside). It will not take much to get this, it could simply be in the next quarter a simple comment about an improvement in outlook and conditions in the market and it will be a rocket higher.
Many people are looking for a "re-opening" stock to buy in anticipation of better news on the virus / vaccine front. I would contend Alteryx is an excellent choice especially after their recent selloff has been largely de-risked. One that offers a potential 100% upside within 12 months, 300 % potential in 24months, both on a stand alone basis (or possible takeout target).
"Home Depot has 2000 stores, it has 200,000 skus and each store will hold 100,000 skus. You can imagine all the combinations and permutations this yields. Alteryx is the key to harnessing this data. It takes Home Depot 2 weeks to crunch and simply prepare data from the permutations when traditional software is used. It takes Alteryx software under one hour. It tells Home Depot exactly which product to place on which shelf during July of a calendar year (a solution to a question with millions of possible outputs). It tells them what product to make seasonally available. It tells pro sports teams who to put on the floor in the last 2 minutes of a game." I added to my holdings yesterday.