Yahoo Finance Why Shares of Alteryx Jumped Today
What happened
Shares of data analytics software company Alteryx (NYSE: AYX) jumped on Thursday; there was no news behind the move. The company went public in early 2017, and the stock has trended upward since thanks to three solid quarterly reports. Alteryx stock closed up 7.8% on Thursday, after having been up as much as 13.5% earlier in the day.
So what
Since going public last year, Alteryx has been putting up some impressive growth numbers. During the third quarter, results for which the company reported in November, Alteryx grew revenue by 52% year over year and managed a dollar-based net revenue retention rate above 130%, indicating a low churn rate. The total number of customers grew 49% year over year to 3,054.
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Alteryx also posted a profit on a non-GAAP basis, reporting non-GAAP earnings per share (EPS) of $0.02. That was $0.10 better than analysts were expecting. Revenue of $34.2 million also came in above analyst expectations, beating the average estimate by about $2 million.
Nothing new emerged from or about the company on Thursday, so this gain looks like it's being driven by continued optimism from investors.
Now what
Alteryx will report its fourth-quarter and full-year results after the market closes on Feb. 21. Analysts are expecting revenue of $35.9 million, up about 44% year over year, along with a non-GAAP loss of $0.03 per share.
With Alteryx now valued at $1.77 billion, about 15 times trailing 12-month sales, the company is going to need to continue exceeding expectations to keep investors happy.
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Timothy Green has no position in any of the stocks mentioned. The Motley Fool recommends Alteryx. The Motley Fool has a disclosure policy.
