AYX - If You Invested $5000 in Alteryx's IPO This Is How Much Money You'd Have Now
Investing early in the life of a growth stock can be life-changing, but only if you hold for the long term. Investors who got in on Microsoft's initial public offering (IPO) and held on to it until today have become millionaires with as little as $500 invested. Alteryx, Inc. (NYSE: AYX), a data analytics platform, may not become the next software juggernaut, but its stock has put up an impressive run since it became public less than three years ago.
Before we find out how much money you'd have if you invested in the IPO, let's learn a little more about the business.
Alteryx makes software that helps data analysts deal with the challenges of turning data into actionable information. Companies have more data than ever before, but getting at it and analyzing it can be difficult. An organization's data may be housed in multiple applications that aren't linked together. Worse yet, it could be in different formats or require information technology personnel to pull the data using tools specific to the application. Standard tools used by business analysts, such as Microsoft Excel, can't handle the millions of rows that need to be culled through to find the gems of analytical wisdom. Alteryx's software addresses all of these issues.