U.S. Markets close in 1 hr 45 mins

Is Alteryx (AYX) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research
Nanometrics (NANO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alteryx (AYX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Alteryx is a member of our Computer and Technology group, which includes 637 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AYX is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for AYX's full-year earnings has moved 151.51% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, AYX has returned 45.10% so far this year. In comparison, Computer and Technology companies have returned an average of 15.07%. This means that Alteryx is performing better than its sector in terms of year-to-date returns.

Looking more specifically, AYX belongs to the Internet - Software industry, a group that includes 83 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 26.92% this year, meaning that AYX is performing better in terms of year-to-date returns.

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


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Alteryx, Inc. (AYX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research