Shares of Alteryx, Inc. (NYSE: AYX) were up 19.6% last month, according to data provided by S&P Global Market Intelligence. There wasn't any specific company-related news for the analytics software company during the month, but the share price jump followed a broader trend of rising tech stock prices in January. Additionally, investors were likely continuing their positive sentiment for Alteryx's stock, which gained an impressive 128% in 2018.
Alteryx's share price jumped about 9% at the very beginning of January and continued climbing throughout the month, along with the broader Nasdaq composite (which is composed mostly of tech stocks). The Nasdaq gained about 9% during the month.
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Alteryx's shares have been somewhat volatile since the company released its third-quarter 2018 results. The company's total revenue jumped 59% in the quarter and investors pushed Alteryx's stock price up 13% on that news, but shares were then flat throughout December. The latest 19% share price jump in January shows that investors will likely continue to be fickle with Alteryx's stock.
Alteryx's share price is down about 2% since the beginning of this month, but that could likely change when the company releases its fourth-quarter 2018 results on Feb 20. The company's management expects sales to be in the range of $56.5 million to $57.5 million, which would be a nearly 48% increase from the year-ago quarter. Because Alteryx's share price jumped last month without any company-specific news, investors can likely expect more volatility when the company's fourth-quarter results are released later this month.
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