Has Alteryx (AYX) Outpaced Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Alteryx (AYX) been one of those stocks this year? 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 our Computer and Technology group, which includes 634 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. AYX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AYX's full-year earnings has moved 208.67% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AYX has returned about 80.81% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 18.68%. This means that Alteryx is performing better than its sector in terms of year-to-date returns.
To break things down more, AYX belongs to the Internet - Software industry, a group that includes 83 individual companies and currently sits at #101 in the Zacks Industry Rank. This group has gained an average of 32.16% so far this year, so AYX is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on AYX as it attempts to continue its solid performance.
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