Why Alteryx Stock Jumped on Wednesday

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Shares of analytics platform provider Alteryx (NYSE: AYX) jumped on Wednesday. The stock was up more than 5% as of 3:20 p.m. EDT.

Interestingly, the stock’s move higher comes as one analyst lowered his price target for the tech stock. But broader-market optimism for growth stocks on Wednesday, as well as the fact that even the lowered price target is nearly double where shares are trading today, likely show why Alteryx is up today anyway.

Image source: Getty Images.

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