15.3 C
New York
Thursday, September 28, 2023

Alteryx Inc. (AYX) stock is soaring, Here is the reason why

 Alteryx, Inc. (NYSE: AYX), a self-service data analytics software providing company focusing on analytic process automation that automates analytics, announced financial report for its first quarter completed on March 31, 2021.AYX stock surged adjacent to the news.

At last check in after-market trading, shares of Alteryx Inc. (AYX) were up 8.13% at $82.6. AYX’s stock lost -3.44% to close Tuesday’s session at $76.39.  Shares of the company fluctuated between $74.725 and $78.58 throughout the day. The shares of Alteryx Inc. have retreated -11.64% in the last five days; however, they have lost -9.44% over the last one month.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.

Sponsored

First Quarter 2021 Financial Result

Revenue generated for the first quarter of 2021 was $118.8 million, which depicted an increase of 9%, vs revenue of $108.8 million in the same quarter for the previous year. GAAP gross profit in the first quarter of 2021 was $107.9 million, in comparison to GAAP gross profit of $95.8 million, in the same quarter the prior year.

Cash, cash equivalents, and short-term as well as long-term investments accounted for $1.0 billion. Operating activities provided a cash of $26M in the first quarter of 2021, in comparison to cash provided by operating activities of $20.0 million in the same quarter the previous year.AYX had 7,214 Customers in the first quarter of 2021, depicting a 12% rise in comparison to the first quarter of 2020. 131  new customers were added in the first quarter of 2021.

GAAP net loss attributable to common stockholders in Q1 of 2021 was $(40.7) million, vs GAAP net loss attributable to common stockholders of $(15.5) million in the same quarter for the previous year. GAAP net loss per diluted share ffor Q1 2021 was $(0.61), in accordance to 66.9 million GAAP weighted-average diluted shares outstanding, in comparison to GAAP net loss per diluted share of $(0.24), in accordance to 65.6 million GAAP weighted-average diluted shares outstanding in the same quarter for the previous year

Alteryx, Inc also Ended the quarter of 2021 with $512.7 million in annual recurring revenue (ARR), depicting a rise of 27% year-over-year. AYX also announced Virtual Global Inspire 2021 from May 18 to May 21, 2021 and was among the top ten most innovative companies in data science, by Fast company.

Conclusion

AYX offered a better-than-expected outlook for the current quarter. Furthermore, announcement of their financial report depicting an increase in revenue surged investor expectations from the company with AYX stock price increasing substantially adjacent to the news.

Latest news

Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here