Alteryx (AYX) and SF Unicorn Launch US Cricket With Analytics
Alteryx AYX recently partnered with the San Francisco Unicorns for the first Major League Cricket season in the United States. The organization expects to grow the team and league with Alteryx as their official analytics partner.
Data and analytics are crucial for decision making in sports. Alteryx with its Fanalytics program, showcases analytics insights and applications for the most popular sports worldwide.
Fanalytics is an initiative by Alteryx, which combines sports, fandom and analytics, for both on-field and off-field insights. It also provides content and interactive experiences for lovers of sports and data and business leaders who want to achieve results with analytics.
The partnership coincides with cricket's professional sports debut in the United States from Jul 13, attracting 2.5 billion fans globally. Alteryx branding will appear on team apparel, venues and live game coverage as partners of the San Francisco Unicorns
Alteryx, Inc. Price and Consensus
Alteryx, Inc. price-consensus-chart | Alteryx, Inc. Quote
Strong Product Portfolio Aids Prospects
Alteryx is benefiting from an expanding clientele, driven by increasing demand for Alteryx Analytics solutions and constant innovations with partners. Its solutions are used for various purposes such as data engineering, data science, machine learning, spatial analytics and generative AI.
Its technology alliances with companies like Snowflake SNOW, Alphabet’s GOOGL Google Could Platform and UiPath PATH extend the value of Alteryx Analytics making it easy for customers to achieve faster business outcomes.
Alteryx Optimization tool used with Snowflake’s secure and efficient platform has gained significant positive traction in sports as well as business. It has been used in Baseball to optimize team performance within a defined budget.
By using innovative statistical metrics like strokes gained and advanced predictive tools, Alteryx Analytics also provides golfers with invaluable insights and personalized recommendations.
Alteryx and Alphabet’s Google Cloud Platform work together to make it easy to leverage cloud for smarter self-service analytics. Its strategic partnership with UiPath makes intelligent end-to-end process automation possible with UiPath bots acting on Alteryx’s machine-learning decisions.
What to Expect From Alteryx for the Rest of 2023?
The Zacks Internet Software companies in the United States are expected to perform well in the rest of 2023, driven by strong demand for cloud-based, AI-enabled and data-driven software solutions. Continuous technological innovations and increased spending have been major headwinds.
However, shares of Alteryx have declined 10.9% year to date against the Zacks Internet Software industry’s and the Computer and Technology sector’s growth of 50.8% and 35.3% year to date, respectively.
The underperformance was primarily caused by challenging macroeconomic conditions. Elevated deal scrutiny, longer sales cycles and shorter contract durations remain potential headwinds.
Alteryx’s performance is expected to improve as customers leverage on its Designer Cloud and Analytics solutions across multiple vertical and product service teams. Continued innovation in generative AI and cloud space and engaged partner ecosystem are expected to drive growth.
This Zacks Rank #3 (Hold) company expects second-quarter 2023 revenues between $180 million and $184 million, indicating a year-over-year growth of flat to 2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the second quarter of 2023, Alteryx expects non-GAAP net loss to be in the range of 69-65 cents per share.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $182.15 million, indicating a 0.85% growth from the year-ago quarter’s reported figure.
The consensus mark for second-quarter 2023 loss remained unchanged at 66 cents per share in the past 30 days, indicating a year-over-year decline of 43.48%.
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