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Has Alteryx (AYX) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
Adobe (ADBE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Alteryx (AYX) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Alteryx is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AYX is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for AYX's full-year earnings has moved 116.97% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, AYX has moved about 27.83% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 17.22%. This shows that Alteryx is outperforming its peers so far this year.

To break things down more, AYX belongs to the Internet - Software industry, a group that includes 83 individual companies and currently sits at #60 in the Zacks Industry Rank. This group has gained an average of 27.05% so far this year, so AYX is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track AYX. The stock will be looking to continue its solid performance.


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