Alteryx (NYSE:AYX) stock price has fallen roughly 48% from its 52-week high, mostly due to multiple adjustments from the recent market turmoil. Despite the big drop in share price, I believe that Alteryx has a strong track record and brand with growing switching costs. At $81, it is undervalued by roughly 97% based on my base-case assumptions.
(Source: Google)
Strong revenue growth with a growing addressable market
The company has achieved very strong revenue growth in recent years. Revenue has grown from $54M in 2015 to $418M in 2019, compounding at 66%