AYX - Why Did Alteryx Stock Rise 18% in February?
2023-03-06 13:32:35 ET
Shares of Alteryx (NYSE: AYX) climbed 17.7% last month, according to data provided by S&P Global Market Intelligence , following a quarterly report that beat analyst estimates for revenue and earnings. The company's sales growth was impressive, but its profitability really stood out, thanks to diligent expense management. This demonstrated Alteryx's ability to manage costs without sacrificing growth.
Alteryx reported 71% revenue growth, which is fantastic, but somewhat misleading. Its annual recurring revenue (ARR) rose 31% over the prior year, and that's a more realistic depiction of the company's ongoing growth rate. The discrepancy between revenue and ARR is largely due to the company's ongoing transition to a subscription software-as-a-service model. Even that slower rate of expansion is still excellent in a shaky macroeconomic environment.
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Why Did Alteryx Stock Rise 18% in February?