William Blair & Company initiated research coverage of Alteryx, Inc. (AYX $17.00). Alteryx provides modern analytics software that enables organizations to easily access, blend, and analyze data.
Analyst estimated the company would generate revenue of $119 million in 2017 and $163 million in 2018, following 59.4% revenue growth in 2016.
“We view analytics as one of the most exciting segments of the enterprise software market,” Suri said, “owing to its attractive growth characteristics that benefit leading innovators. We see potential for Alteryx to drive adoption among the estimated 296 million information workers who rely exclusively on spreadsheet software. By enabling more people in an organization to access information, perform analysis, and share results without assistance from technical specialists, Alteryx accelerates the pace of intelligent decision-making.”
Suri continued, “Global data volumes are estimated to increase from 4.4 zettabytes in 2013 to 44 by 2020. The benefits of leveraging this data are becoming well-known, but traditional solutions have not evolved to address the greater complexity and enable wider usage—this dynamic is translating to a healthy demand backdrop for modern analytics platforms. In our view, Alteryx’s differentiated self-service data preparation and advanced analytics capabilities address two of the most important market needs, positioning the company to be a key beneficiary.”
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Current Ratings Distribution (as of 3/31/17)
Outperform (Buy): 59%
Market Perform (Hold): 35%
Underperform (Sell): 1%
Inv. Banking Relationships*
Outperform (Buy): 10%
Market Perform (Hold): 3%
Underperform (Sell): 0%
* Percentage of companies in each rating category that are investment banking clients, defined as companies for which William Blair has received compensation for investment banking services within the past 12 months.
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