AYX - Why Alteryx Was Rising on a Tough Day for Other Software Names
Shares of data analytics and automation software provider Alteryx (NYSE: AYX) were rising today, up 5% as of 2:13 p.m. ET, on a day when many high-growth software companies found themselves deeply in the red.
That's because Alteryx had already been fairly beaten down last year to quite low valuations, at least relative to other enterprise software companies. In addition, the company reported first-quarter earnings last night that handily beat expectations.
In the first quarter, Alteryx accelerated revenue and annualized recurring revenue (ARR) by the same 33% growth figure. Non-GAAP (adjusted) losses per share were $0.40, which, although negative, still beat expectations.
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Why Alteryx Was Rising on a Tough Day for Other Software Names