Is Alteryx Stock a Buy?
Alteryx (NYSE: AYX) posted better-than-expected second-quarter results last week, but management forecast revenue growth to decelerate over the rest of the year, mostly because of coronavirus-induced uncertainties. Given that disappointing outlook, Alteryx stock price plunged 28% following the release. Yet with the explosive growth of worldwide data, the long-term potential of the data analytics specialist should remain strong. Thus, at 33% below its recent all-time high, is Alteryx stock now a buy?
As the world is digitalizing, enterprises must deal with increasing amounts of data. The research outfit IDC anticipates the collective sum of the world's data will grow at a compound annual rate (CAGR) of 61% by 2025.
Alteryx provides solutions for enterprises to analyze their data and make business decisions efficiently, without relying on specialized data scientists. Its core product, Designer, allows easy formatting of data from multiple sources before analyzing it. It also automates tasks that would remain time-consuming within spreadsheets such as Microsoft's Excel.
Source Fool.com
