Alteryx Inc: Shares Up 124% in 2019 as Q2 Results Crush Estimates

Alteryx Inc Bullish Tech Stock Up 124% in 2019, Raises 2019 Guidance
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Alteryx Inc Is One of the Most Consistently Bullish Tech Stocks

Alteryx Inc (NYSE:AYX) is a fabulous tech stock we have been tracking closely in 2019. And for good reason. The company has a strong balance sheet, strong revenue growth, customer wins, and a strong outlook.

Toss in investor optimism and you can see how the data specialist continues to be one of the best-performing stocks over the last few years. Since the start of 2018, AYX stock has soared approximately 410%. In 2019, it has advanced roughly 124%.

The company should continue to reward investors with strong double-digit gains in the second half of 2019. Our previous Alteryx stock forecast of $145.00 per share remains firmly on track.

Alteryx Inc Overview

Alteryx is a data analytics software company that helps its customers mine, analyze, and organize vast amounts of data. The company’s subscription-based platform helps businesses become more competitive and productive.

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The company’s global customers include Ford Motor Company (NYSE:F)Microsoft Corporation (NASDAQ:MSFT), and Unilever NV (NYSE:UN).

AYX Stock Information

Market Cap $8.2 Billion
52-Week Change 185.1%
52-Week High $131.74
52-Week Low $40.64
Shares Outstanding: 46.5 Million
Float 44.5 Million
50-Day Moving Average: $112.92
200-Day Moving Average: $88.34

(Source: “Alteryx, Inc. (AYX),” Yahoo! Finance, last accessed August 1, 2019.)

Alteryx stock has trended steadily higher since it went public in March 2017. Its price hasn’t experienced any huge spike or pop that it couldn’t sustain. Instead, it has been on a stable growth trajectory that has rewarded buy-and-hold investors.

Because of the company’s bullish outlook for 2019, AYX stock should continue on this enviable path for the rest of 2019 and well into 2020.


Chart courtesy of StockCharts.com

Q2 Results Trounce Wall Street Estimates

Wall Street was looking for Alteryx to report second-quarter revenue of $76.5 million and an adjusted net loss of $0.06 per share. Once again, the analysts were way off.

After the bell closed on July 31, Alteryx announced that revenue for the second quarter, ended June 30, advanced 59% year-over-year to $82.0 million. (Source: “Alteryx Announces Second Quarter 2019 Financial Results,” Alteryx Inc, July 31, 2019.)

The company ended the second quarter with 5,278 customers, up 34% from the second quarter of last year. During the quarter, it added 305 new customers.

Back to the financials, Alteryx reported a second-quarter net loss of $3.2 million, or $0.05 per share. That’s compared to a loss of $4.2 million, or $0.07 per share, in the same prior-year period.

It also reported adjusted net income of $0.9 million, or $0.01 per share, compared with break-even income and income per share during the second quarter of 2018.

AYX ended the second quarter with cash, cash equivalents, and investments of $426.8 million, compared with $426.2 million at the end of 2018.

Looking ahead, for the third quarter, Alteryx expects its revenue to be in the range of $88.0 to $91.0 million, representing a year-over-year increase of 41% to 45%. The company also expects its adjusted income from operations to be in the range of $5.0 to $8.0 million and its adjusted net income per share to be in the range of $0.06 to $0.09.

For full-year 2019, Alteryx raised its revenue guidance to the range of $370.0 to $375.0 million, representing year-over-year growth of between 46% and 48%. It also forecasts its adjusted net income per share for the year to be in the range of $0.44 to $0.50

Analyst Take

Alteryx Inc has been one of the best tech stocks over the last two-and-a-half years. The company has a history of raising its guidance and it continually beats Wall Street estimates. You can’t ask much more than that from a tech stock—or any company, for that matter.

That’s why Alteryx stock should continue to experience solid growth over the next 12 months, even if there is a correction.