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Fly News Breaks for February 28, 2019
AYX
Feb 28, 2019 | 09:14 EDT
Needham analyst Jack Andrews raised his price target on Alteryx to $90 and kept his Buy rating after its "solid" Q4 results that exceeded its pre-announced revenue. The analyst notes that as a results of ASC606 accounting adoption, the company will be able to "recognize 35% to 40% of TCV billings within a quarter", which results in sales acceleration. Andrews further cites the "record number of customer additions" disclosed by Alteryx and points to the "broad demand across all use cases internationally."
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