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

Zacks Equity Research

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. 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 one of 639 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AYX is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for AYX's full-year earnings has moved 214.29% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, AYX has moved about 93.37% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 23.53%. This shows that Alteryx is outperforming its peers so far this year.

To break things down more, AYX belongs to the Internet - Software industry, a group that includes 87 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, stocks in this group have gained 38.22% this year, meaning that AYX is performing better in terms of year-to-date returns.

AYX will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.


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