Alteryx Signals a Permanent Slowdown for Data Analytics Might Be Here
Shares of data science and analytics firms Alteryx (NYSE: AYX) have lost over 40% of their value in a matter of days. Granted, at its peak shares were up nearly 80% in 2020 to date, rallying in tandem with other high-flying software names as effects from COVID-19 forced many organizations to pick up the pace of their digital transformations, in which old and now-redundant operations get replaced by more efficient tech-driven ones.
While the analytic process automation firm did top its own guidance in the second quarter, it was nonetheless a "disappointing" report card and second-half-2020 outlook, one that implies its fastest days of growth may be in the history books. That is no reason to offload this stock by itself, but investors would be wise to temper expectations going forward.
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Source Fool.com
