Why Is Alteryx Stock Going Up
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Alteryx Stock Jumps 30 Percent on Q3 Sales Guidance, New CEO

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In after-hours trading on Oct. 5, Alteryx stock soared more than 30 percent after the company hiked its sales outlook for the third quarter. The data-analytics software company also said that board member Mark Anderson would take over as CEO, replacing Alteryx co-founder Dean Stoecker.

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Why Is Alteryx Stock Going Up
Source: iStock

What is Alteryx?

Alteryx was started in 1997 by Dean Stoecker, Ned Harding, and Olivia Duane Adams. The computer software company's products are used for data science and analytics.

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What's the latest Alteryx stock news?

Alteryx shares rallied in after-hours trading yesterday after the company announced that board member Mark Anderson would be succeeding Dean Stoecker as CEO immediately, and Stoecker would be the company’s executive chairman.

In a press release, Anderson said, “Digital transformation is accelerating globally and Alteryx's product vision and strategic positioning align closely with the market convergence of people, process and data. Building and enabling high performing teams—especially at Alteryx's stage—is my professional and personal passion. I look forward to partnering closely with Dean, the rest of the Board and the entire Alteryx team as we embark on the next phase of our growth.”

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On the same day, Alteryx also increased its sales guidance for the third quarter of 2020 (ended Sept. 30). The company now expects sales between $126 million and $128 million, or YoY (year-over-year) growth between 22 and 24 percent. Alteryx had earlier issued a sales outlook of between $111 million and $115 million, representing 7–11 percent YoY growth. Analysts were expecting the company to report sales of $113.6 million, or 10 percent YoY growth. Alteryx is set to report its third-quarter earnings results on Nov. 5. 

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What was AYX stock price after hours? What is AYX's stock price today?

Yesterday, Alteryx stock surged more than 30 percent in after-hours trading, touching a high of $152 and a low of $112.11. Alteryx stock was up about 23.1 percent at $140.18 in premarket trading today as of this article's writing. The stock rose 0.7 percent yesterday and closed at $113.88 with a market capitalization of $8.1 billion. Alteryx stock has risen by 0.1 percent in the last five days and 5.7 percent in the last year.

Alteryx stock is trading 38.7 percent below its 52-week high of $185.75 and 51.5 percent above its 52-week low of $75.17. Year-to-date, the stock had risen by 13.8 percent as of Oct. 5. 

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Should I buy Alteryx stock?

Currently, analysts' stock price forecast for Alteryx is $158.25, which suggests a 39 percent upside. Their highest target price of $195 implies a 71.2 percent upside, while their lowest target price of $110 suggests a 3.4 percent downside. Among the eight Wall Street analysts tracking Alteryx, seven recommend "buy" and one recommends "hold." None recommend "sell."

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