AYX - Alteryx a new best idea short at Hedgeye shares drop

Alteryx (NYSE:AYX) was added as a new best idea short at Hedgeye. Alteryx fell 4.1%. Alteryx (AYX) is paying more for marketing/advertising though adoption is "weakening," Hedgeye analyst Ami Joseph wrote in a midday report on Friday. "Whether they admit to it or not, AYX now competes with SQL and Python, both free languages, both better for organizations to adopt and employees to upskill," Joseph wrote in the note. "AYX filled a need for data democratization that is reduced or threatened by the new generation of data platform companies." AYX appears to be expensive compared to some other software companies. Hedgeye will host a presentation on the AYX short call on Tuesday. Alteryx (AYX) short interest is 4.8%. AYX last month reported Q1 results.

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Alteryx a new best idea short at Hedgeye, shares drop