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Alteryx (AYX) and Databricks Launch New Cloud Capabilities
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Alteryx recently announced new technical capabilities that will enable customers to use the Databricks Lakehouse Platform with the Alteryx Analytics Cloud. These capabilities enhance Alteryx's portfolio of innovations and Databricks' large language models, making analytics, machine learning and generative AI more accessible for everyone.
The Alteryx Analytics Cloud Platform integration with Databricks makes it easier for joint customers to transform data on the Databricks Lakehouse Platform and accelerate high-value analytics and AI/ML initiatives.
It offers one cloud-native data stack that allows non-technical users to use Alteryx's no-code building blocks to access and process data in the Databricks Lakehouse.
These joint capabilities from Alteryx and Databricks will enable organizations to make smarter business decisions that drive innovation, lower the total cost of ownership, increase productivity and centralize data access across environments.
Alteryx is benefiting from an expanding partner base with the likes of UiPath (PATH - Free Report) , Snowflake (SNOW - Free Report) and Amazon’s (AMZN - Free Report) AWS. These partnerships are helping the company expand its global market reach and customer success capabilities.
Alteryx extended its strategic partnership with UiPath to make intelligent end-to-end process automation possible with UiPath bots acting on Alteryx’s machine-learning decisions. It simplifies the process of digital transformation by combining Alteryx APA with UiPath Robotic Process Automation (RPA), helping organizations modernize their infrastructure.
The Snowflake partnership allows Alteryx to leverage Snowflake’s compute, elastic scaling and secure data sharing capabilities to provide customers with automated data pipelining, faster data processing and accelerated analytics outcomes at scale.
Its partnership with Amazon’s cloud arm, AWS, combines Alteryx’s analytics with AWS’ storage and computing power to make enterprise-grade performance accessible to non-technical employees.
Alteryx is benefiting from an expanding clientele, driven by increasing demand for Alteryx Analytics Cloud and constant innovations with partners.
In first-quarter 2023, its overall dollar-based net retention rates remained unchanged at 121%. The Global 2000 net expansion rate increased 2% sequentially to 131%.
Here's What to Expect From Alteryx in Rest of 2023
Shares of Alteryx have declined 9.7% year to date against the Zacks Internet Software industry’s and the Computer and Technology sector’s growth of 45.9% and 36.7%, respectively.
The underperformance can be primarily attributed to challenging macroeconomic conditions. Elevated deal scrutiny, longer sales cycles and shorter contract durations remain potential headwinds.
For the second quarter of 2023, Alteryx expects non-GAAP net loss to be in the range of 69-65 cents per share.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $182.15 million, indicating 0.85% growth from the year-ago quarter’s reported figure.
The consensus mark for second-quarter 2023 loss remained unchanged at 66 cents per share in the past 30 days, indicating a year-over-year decline of 43.48%.
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Alteryx (AYX) and Databricks Launch New Cloud Capabilities
Alteryx recently announced new technical capabilities that will enable customers to use the Databricks Lakehouse Platform with the Alteryx Analytics Cloud. These capabilities enhance Alteryx's portfolio of innovations and Databricks' large language models, making analytics, machine learning and generative AI more accessible for everyone.
The Alteryx Analytics Cloud Platform integration with Databricks makes it easier for joint customers to transform data on the Databricks Lakehouse Platform and accelerate high-value analytics and AI/ML initiatives.
It offers one cloud-native data stack that allows non-technical users to use Alteryx's no-code building blocks to access and process data in the Databricks Lakehouse.
These joint capabilities from Alteryx and Databricks will enable organizations to make smarter business decisions that drive innovation, lower the total cost of ownership, increase productivity and centralize data access across environments.
Alteryx, Inc. Price and Consensus
Alteryx, Inc. price-consensus-chart | Alteryx, Inc. Quote
Expanding Partner Base Boosts Top Line
Alteryx is benefiting from an expanding partner base with the likes of UiPath (PATH - Free Report) , Snowflake (SNOW - Free Report) and Amazon’s (AMZN - Free Report) AWS. These partnerships are helping the company expand its global market reach and customer success capabilities.
Alteryx extended its strategic partnership with UiPath to make intelligent end-to-end process automation possible with UiPath bots acting on Alteryx’s machine-learning decisions. It simplifies the process of digital transformation by combining Alteryx APA with UiPath Robotic Process Automation (RPA), helping organizations modernize their infrastructure.
The Snowflake partnership allows Alteryx to leverage Snowflake’s compute, elastic scaling and secure data sharing capabilities to provide customers with automated data pipelining, faster data processing and accelerated analytics outcomes at scale.
Its partnership with Amazon’s cloud arm, AWS, combines Alteryx’s analytics with AWS’ storage and computing power to make enterprise-grade performance accessible to non-technical employees.
Alteryx is benefiting from an expanding clientele, driven by increasing demand for Alteryx Analytics Cloud and constant innovations with partners.
In first-quarter 2023, its overall dollar-based net retention rates remained unchanged at 121%. The Global 2000 net expansion rate increased 2% sequentially to 131%.
Here's What to Expect From Alteryx in Rest of 2023
Shares of Alteryx have declined 9.7% year to date against the Zacks Internet Software industry’s and the Computer and Technology sector’s growth of 45.9% and 36.7%, respectively.
The underperformance can be primarily attributed to challenging macroeconomic conditions. Elevated deal scrutiny, longer sales cycles and shorter contract durations remain potential headwinds.
This Zacks Rank #3 (Hold) company expects second-quarter 2023 revenues between $180 million and $184 million, flat to up 2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the second quarter of 2023, Alteryx expects non-GAAP net loss to be in the range of 69-65 cents per share.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $182.15 million, indicating 0.85% growth from the year-ago quarter’s reported figure.
The consensus mark for second-quarter 2023 loss remained unchanged at 66 cents per share in the past 30 days, indicating a year-over-year decline of 43.48%.