Alteryx (AYX) - Get Alteryx, Inc. Class A Report was up 3.65% to $114.73 after receiving a bullish note from analysts at Wedbush who upgraded the stock to outperform from neutral while also raising the company's price target to $135 from $123.
The new price target represents a potential upside of 22% from the stock's closing price Friday of $110.69.
Wedbush is now bullish after conducting customer and industry checks that show "AYX's ability to maintain its revenue momentum. Those checks make Wedbush analyst Steve Koenig "less concerned about near term competition from Tableau Prep and the relatively nascent state of AYX's data science efforts."
Last week, shares of the computer-analytics company rose after it announced the purchase of data-science software company Feature Labs, part of a bid to bolster AYX's machine-learning and artificial-intelligence operations.
Alteryx said in a statement that Feature Labs, co-founded by two Massachusetts Institute of Technology researchers, will help it "fill the data-science and machine-learning talent gap." Alteryx offers an end-to-end analytics platform for data analysts and scientists, while Feature Labs features data libraries with over 350,000 downloads.