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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Alteryx is a member of our Computer and Technology group, which includes 640 different companies and currently sits at #9 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AYX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AYX's full-year earnings has moved 3.71% 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 97.65% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 22.73% on average. This shows that Alteryx is outperforming its peers so far this year.
Looking more specifically, AYX belongs to the Internet - Software industry, which includes 90 individual stocks and currently sits at #65 in the Zacks Industry Rank. On average, this group has gained an average of 33.33% so far this year, meaning that AYX is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AYX as it looks to continue its solid performance.
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