The Irvine, Calif., company expects an adjusted loss of 12 cents to 26 cents a share, weaker than the Bloomberg analyst consensus forecast of 1 cent.
And it predicts revenue of $520 million to $530 million for the full year, lagging the consensus estimate of $571.2 million.
The stock recently traded at $67.94, down 14%, leaving it down 47% for the last six months.
Needham analysts dropped their price target to $96 from $129 but affirmed their buy rating.
The earnings report was mixed, they said, according to Bloomberg. Second-quarter results beat expectations while the forecasts trailed.
Go-to market changes “may decrease near-term visibility, [but] we believe they should position AYX for better sustainable growth,” Needham said.
Rosenblatt Securities slashed its price target to $100 from $130 but also maintained a buy rating.
The revenue forecast failed to meet the investment firm's estimates “as more customers are signing shorter-duration contracts” and as Alteryx keeps shifting its go-to-market programs, Rosenblatt analysts said, according to Bloomberg.
The stock may slide in the short term but will ultimately benefit from expanding annual recurring revenue and a customer net growth rate of 129%, Rosenblatt said.
Morgan Stanley has an equal-weight rating and an $89 price target for Alteryx.
The firm's analysts are “encouraged” by the company’s annual recurring revenue in the second quarter, but “we can’t safely state that fiscal 2021 annual-recurring-revenue guidance now looks derisked,” Bloomberg reports.