AYX - Alteryx analysts shake off downside forecast praise sales strategy shift

During yesterday's fourth quarter earnings call, Alteryx (AYX) management outlined plans to adjust its sales strategies, which includes marketing more collaboratively with strategic partners. The changes could pressure results in the first half of 2021.Citi (Buy, $165 price target) notes Alteryx's disappointing earnings results with a "significant slowdown in new business activity." The firm sees the issues are "a combination of cyclical, execution, and product, but ultimately they look fixable," but those problems are "fixable."Rosenblatt (Buy, PT from $150 to $145) says the sales strategy shift "will set the stage for Alteryx’s product transition to the Cloud and improve its recurring revenue growth prospects."Alteryx shares are down 14.4% to $118.67 despite reporting Q4 beats.Deeper dive: Alteryx Q4 earnings call transcript.

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Alteryx analysts shake off downside forecast, praise sales strategy shift