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Alteryx (AYX) Releases New Capabilities for Public Sector

Zacks Equity Research
·3-min read

Alteryx AYX recently launched a version of its server offering, Alteryx Server-FIPS. The new server offering is aligned with the Federal Information Processing Standards (FIPS) for data security and computer systems, and is expected to aid public sector entities in using analytics and enhance data encryption.

Alteryx Server-FIPS is a server-based product for scheduling, sharing, and running apps and models created in Alteryx Designer-FIPS for other organizations to use and run workflows.

This is expected to help public entities meet their stringent information security requirements, and process and analyze data to take decisions faster.

The newly-launched server offering will open up a large addressable opportunity for AYX in the public sector and drive Alteryx’s top line in the coming quarters.

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Alteryx’s recent launch of a solution to address the public sector is part of its top-line expansion strategy to build new solutions, which bring automated data analytics and address the current requirements in the market. This is expected to help AYX attract customers and contribute to long-term top-line growth.

Alteryx, Inc. Price and Consensus

Alteryx, Inc. Price and Consensus
Alteryx, Inc. Price and Consensus

Alteryx, Inc. price-consensus-chart | Alteryx, Inc. Quote

AYX Offers Solutions to Woo Customers

To grow its customer base by launching solutions, Alteryx has been keenly focused on acquisitions and partnerships over the past few years.

In January 2022, Alteryx reached a definitive agreement to acquire Trifacta, a cloud company focused on leveraging scalable data management and machine learning.

The acquisition of Trifacta is expected to help Alteryx grow its footprint in cloud-based solutions and access new buyers across IT within large enterprises.

Also, partnerships with companies like Snowflake SNOW, Adobe ADBE and UiPath PATH are enabling AYX to acquire customers continuously.

Recently, Alteryx extended its strategic partnership with the automation software company UiPath.

Apart from this stretched partnership, UiPath integrated a new connector as part of Alteryx’s new product, the Alteryx Analytic Process Automation (APA) Platform.

Alteryx APA combined with UiPath Robotic Process Automation (RPA) is set to simplify the process of digital transformation, helping organizations modernize their infrastructures.

In 2021, Alteryx announced its partnership with the data cloud company Snowflake.

The Snowflake partnership allows Alteryx to leverage its compute, elastic scaling and secure data sharing capabilities to provide customers with automated data pipelining, faster data processing and accelerated analytics outcomes at scale.

Alteryx also partnered with Adobe to provide marketers with access to new analytics and data science solutions through Adobe Exchange.

The Alteryx APA and the Adobe Experience Platform jointly help organizations automate marketing analytics, thus achieving fast analytics-driven outcomes.

Alteryx is benefiting from an expanding clientele, driven by increasing demand for a self-service data science and analytics platform.

Expanding partnerships and strategic acquisitions are bolstering Alteryx’s solutions, thus helping it attract a large customer base to its platform. In the second quarter, customer wins boosted AYX’s top line.

In the June quarter, AYX reported revenues of $181 million, up 50% year over year. However, Alteryx reported an operating loss of $30 million due to rising operating expenses, which will likely continue in the coming quarters , decreasing bottom-line growth.

Currently, Alteryx has a Zacks Rank #4 (Sell).

Shares of Alteryx have increased 6.9% against the Zacks Internet Software industry’s plunge of 48% and the Computer and Technology sector’s fall of 26.4% in the year-to-date period. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

However, AYX’s expansion into the public sector is expected to help it improve its top line, which in turn, might aid in meeting its rising operating expenses and driving profitability in the long term.


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