NFLX - Could Alteryx Be a Millionaire-Maker Stock?
Owning Microsoft, Amazon, or Netflix stock has enabled many investors to become millionaires. These companies started out small and became leaders in a massive market that enabled the stocks to grow over decades. Millionaire shareholders saw the potential early, bought shares over time, and held them for the long term.
Could Alteryx (NYSE: AYX) stock be a millionaire maker too? Let's dive into the business, look at its growth prospects, and check out the size of its market to see if this software analytics specialist has what it takes.
Alteryx has built a $418 million revenue-run-rate business by selling subscriptions for its data analytics software. Its platform provides "code-free" tools for analysts to prepare, combine, and ultimately analyze large data sets from multiple sources across the organization. It can even be used by programmers and data scientists who use coding to perform more sophisticated number-crunching tasks. The software saves users countless hours of tedious prep time, allowing them to spend more time performing the real value-added work of analysis.