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After reaching an important support level, Alteryx, Inc. (AYX) could be a good stock pick from a technical perspective. AYX surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
Last year, the data analytics market size was valued at $271.83 billion, and the sector's valuation is expected to soar to $745.15 billion by 2030. Clearly, companies are relying more and more on mining trillions of data points to provide them with valuable insights about their businesses and customers.
Alteryx, Inc. (NYSE:AYX ) Needham Virtual Infrastructure, Data Analytics Software, & Cloud Communications Conference Call November 15, 2023 1:30 PM ET Company Participants Kevin Rubin - Chief Financial Officer Suresh Vittal - Chief Product Officer Conference Call Participants Mike Cikos - Needham Mike Cikos Great. Thank you to everyone for joining us with Needham's Tech Week.
Alteryx, Inc. (NYSE:AYX ) Q3 2023 Earnings Conference Call November 6, 2023 5:00 PM ET Company Participants Mark Anderson - Chief Executive Officer Kevin Rubin - Chief Financial Officer Paula Hansen - President & Chief Revenue Officer Suresh Vittal - Chief Product Officer Ryan Goodman - Head of Investor Relations Conference Call Participants Koji Ikeda - Bank of America Sanjit Singh - Morgan Stanley Derrick Wood - TD Cowen Tyler Radke - Citi Mike Cikos - Needham & Company Joel Fishbein - Truist Securities Brent Bracelin - Piper Sandler Michael Turits - KeyBanc Capital Markets Ittai Kidron - Oppenheimer Pinjalim Bora - JP Morgan Operator Greetings, and welcome to the Alteryx, Third Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode.
Shares of Alteryx Inc. AYX, -7.33% are soaring 16% in extended trading Monday following the software company's quarterly results that included a narrower-than-expected loss and sales that beat analyst estimates. Alteryx reported a fiscal third-quarter net loss of $50 million, or 70 cents a share, compared with a net loss of $75 million, or $1.09 a share, in the same quarter a year ago.
Alteryx fell after a Piper Sandler analyst downgraded his rating on the stock. The analyst maintained his one-year price target on the stock.
Alteryx (AYX) expands its portfolio with the recent launch of Alteryx AiDIN innovations, which includes AI Studio. The expanded portfolio is expected to aid top-line growth.
Alteryx, Inc. is determined to enhance sales execution, improve sales productivity, and implement cost-saving measures. And yet, Alteryx's revenue growth has been volatile, and reaching its Rule of 40 target by 2024 appears uncertain. Alteryx faces opportunities in generative AI and cloud-connected experiences but also challenges in customer buying behavior.
The United States has been facing a confluence of threats that risk more turbulence. Currently, there are several potential challenges to contend with, including the prospect of extended autoworkers, strikes, the possibility of a prolonged government shutdown, the restart of student loan payments and the escalation of oil prices.
1 Rebounding Software Stock Could Be Great, the Other a Dangerous Value Trap. Which Is Worth Buying?
Alteryx shows signs of turning higher on cost-cutting initiatives and rumors it might be up for sale. AppLovin has made a stellar comeback this year thanks to profit increases and stock buybacks.