Why Alteryx Stock Plummeted Today
Shares of Alteryx (NYSE: AYX) have plummeted today, down by 18% as of 1:15 p.m. EST, after the company reported third-quarter earnings. The results topped Wall Street's expectations but guidance for the fourth quarter was lacking.
Revenue in the third quarter increased 25% to $129.7 million, which was ahead of the consensus estimate of $119.7 million. That translated into adjusted net income of $27.1 million, or $0.39 per share, compared to the $0.14 per share in adjusted profits that analysts were modeling for. The analytics technology company ended the quarter with nearly 7,000 customers and reported a dollar-based net expansion rate of 124%. Annual recurring revenue (ARR) is now $449.5 million.
Image source: Alteryx.
Source Fool.com
