Why Alteryx Stock Gained 27% in May
Shares of Alteryx (NYSE: AYX) were climbing again last month as the cloud-based data analytics provider continued to rebound from the stock market crash in March. Alteryx shares actually pulled back briefly after the company's first-quarter earnings report, but rallied later in the month with the help of an analyst upgrade and broader gains among SaaS (software-as-a-service) stocks. According to data from S&P Global Market Intelligence, Alteryx finished last month up 27%.
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Shares actually fell modestly, slipping 3%, on May 7 after the data analytics specialist turned in its first-quarter report. Alteryx turned in a solid quarter, with revenue jumping 43% to $108.8 million on a dollar-based net expansion rate of 128%, meaning existing customers from a year ago hiked their spending by 28%. Spending on operating expenses like sales and marketing as well as research and development was up substantially. Alteryx posted an adjusted loss of $0.10 per share, down from a profit of $0.04 per share a year ago. Analysts had expected a loss of $0.09 per share.
Source Fool.com
