Alteryx shares are trading lower after the company reported Q2 results and weak Q3 revenue guidance. Piper Sandler downgraded to Neutral from Overweight and lowered the price target to $30 from $68.
Portfolio Pulse from Benzinga Newsdesk
Alteryx's shares have dropped following the company's Q2 results and weak Q3 revenue guidance. Piper Sandler has downgraded the company to Neutral from Overweight and reduced the price target to $30 from $68.
August 08, 2023 | 8:41 am
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NEGATIVE IMPACT
Alteryx's stock price is likely to be negatively impacted due to weak Q3 revenue guidance and Piper Sandler's downgrade.
Alteryx's weak Q3 revenue guidance indicates potential financial instability, which is likely to deter investors. Additionally, Piper Sandler's downgrade and lowered price target suggest a lack of confidence in the company's stock, which could further discourage investment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100