AYX - Why Alteryx Jumped 10.6% in June
Shares of data analytics company Alteryx (NYSE: AYX) were up 10.6% in June, according to data provided by S&P Global Market Intelligence . There was no material news released by Alteryx this month, so it is likely the stock was rising in conjunction with the resurgence of growth stocks in June.
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Alteryx did not release an earnings report last month, so it is tough to identify any fundamental reason why the stock went up over 10% during the period. However, over the past month growth stocks (with which Alteryx typically gets grouped) have beaten the S&P 500 index by over 4%. This broad market move is the best candidate for Alteryx's June price performance. The company did announce a partnership with accounting and consulting firm KPMG and signed a contract with McLaren racing, but outside of those two developments, nothing much happened with Alteryx in June.
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Why Alteryx Jumped 10.6% in June