AYX - Alteryx: Buy the Dip?
Cloud stocks have been on fire this year, but not every software-as-a-service (SaaS) player has been a winner.
Alteryx (NYSE: AYX), for example, left investors scratching their heads after shares of the data analytics software provider plunged 28% on its second-quarter earnings report and fell 10% the following session, wiping out nearly all of the stock's gains for the year.
Though the company beat estimates for the second quarter, its guidance called for growth to slow dramatically in the second half of the year. After revenue growth of 17% in the second quarter, management called for just a 7% to 11% increase on the top line in the third quarter and 10% to 11% increase for the full year, implying a revenue decline in the fourth quarter.