Investors focused on the Computer and Technology space have likely heard of Alteryx (AYX), but is the stock performing well in comparison to the rest of its sector peers? 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 one of 640 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 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 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).
The Zacks Consensus Estimate for AYX's full-year earnings has moved 116.67% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AYX has moved about 40.66% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 22.97% on a year-to-date basis. As we can see, Alteryx is performing better than its sector in the calendar year.
To break things down more, AYX belongs to the Internet - Software industry, a group that includes 84 individual companies and currently sits at #37 in the Zacks Industry Rank. On average, stocks in this group have gained 26.02% this year, meaning that AYX is performing better in terms of year-to-date returns.
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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