Alteryx Analysts Slash Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
Alteryx reported a 4% Y/Y increase in Q2 revenue to $188 million, beating the consensus of $182.2 million. However, the company issued a weak Q3 guidance, expecting revenues of $208 million - $212 million, below the consensus of $233.04 million. Following the earnings announcement, analysts from Piper Sandler, Rosenblatt, and Needham lowered their price targets on Alteryx. Alteryx shares fell 26.1% in pre-market trading.
August 08, 2023 | 11:37 am
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Alteryx's Q2 revenue beat expectations, but weak Q3 guidance led to a drop in share price and lowered price targets from analysts.
Alteryx's Q2 results were positive, but the weak Q3 guidance is a negative signal for the company's future performance. This has led to a drop in the company's share price and analysts lowering their price targets, indicating a negative short-term impact on the stock.
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