AYX - Is Alteryx Stock a Buy Now?
2023-05-03 05:20:00 ET
Alteryx 's (NYSE: AYX) stock price plunged 19% on April 28 after it posted a mixed first-quarter earnings report. The analytics software provider's revenue rose 23% year over year to $199 million, which missed analysts' estimates by $1 million. However, it more than halved its adjusted net loss from $27.3 million to $13.2 million, or $0.19 per share, which easily cleared the consensus forecast by $0.07.
Alteryx's growth rates seem stable, but its gloomy guidance rattled investors. It expects its revenue to only rise 0%-2% year over year in the second quarter, compared to analysts' expectations for 14% growth, and said it would lay off about 11% of its workforce to cope with that near-term slowdown. Does that grim outlook indicate Alteryx is in trouble, or does its post-earnings plunge represent a good buying opportunity?
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Is Alteryx Stock a Buy Now?