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Alteryx (AYX) Releases New Capabilities for Public Sector
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Alteryx is expanding its footprint in the public sector with the formation of the Alteryx Public Sector platform. The platform is aimed at providing tailored analytics solutions for U.S. public sector institutions.
This strategic move comes in response to the urgent need for advanced technologies, particularly artificial intelligence (AI), as indicated by a recent Alteryx survey revealing that 49% of public sector organizations plan to invest in such technologies over the next three years.
Committed to empowering public sector employees, Alteryx has a proven track record of collaboration with over 1,100 educational institutions and a multitude of government and defense customers.
Noteworthy initiatives, including partnerships with the Department of Defense SkillBridge program and the global Alteryx SparkED program, underscore Alteryx's dedication to equipping public sector professionals with the skills required to leverage AI and data analytics effectively.
The latest move is in sync with the company's effort toward strengthening its position and expanding its presence in the public sector analytics space.
During the third quarter of 2023, Alteryx introduced the Alteryx Marketplace, providing users with a curated platform to discover and access verified, creator-supported solutions that enhance the functionality of the Alteryx platform and foster business growth.
The growing demand for the Alteryx Analytics platform, which comprises AiDIN, is expected to boost prospects in the long haul.
In October, Alteryx introduced AiDIN innovations, including AI Studio, facilitating no-code users to leverage generative AI for customizing large language models (LLMs), while upcoming Playbooks automate initial analytics stages, enhancing data insights and operational agility.
AYX collaborated with TechVets in the U.K., extending its commitment to military service members globally by offering real-world industry training and certifications in data analytics through the Alteryx SparkED program for veterans and active-duty personnel.
Beyond technological advancements, Alteryx is benefiting from an expanding clientele, exemplified by its collaboration with Alphabet (GOOGL - Free Report) and Snowflake (SNOW - Free Report) .
Alteryx strengthened its collaboration with Alphabet’s Google Cloud, offering Looker Studio users seamless access to a complimentary limited version of Alteryx Designer Cloud, featuring AI-driven data preparation capabilities and improved connectivity.
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.
Fourth-Quarter View Positive
Alteryx expects fourth-quarter 2023 revenues in the range of $334-$340 million, suggesting year-over-year growth of 11-13%. The Zacks Consensus Estimate for the same is pegged at $337.39 million, suggesting a rise of 12.06%.
The consensus mark for earnings is pegged at $1.15 per share, unchanged in the past 30 days and indicating year-over-year growth of 36.9%.
Zacks Rank & Stock to Consider
Currently, AYX has Zacks Rank #2 (Buy).
The stock has declined 11.4% against the Zacks Computer & Technology sector’s return of 47.1% year to date.
Image: Bigstock
Alteryx (AYX) Releases New Capabilities for Public Sector
Alteryx is expanding its footprint in the public sector with the formation of the Alteryx Public Sector platform. The platform is aimed at providing tailored analytics solutions for U.S. public sector institutions.
This strategic move comes in response to the urgent need for advanced technologies, particularly artificial intelligence (AI), as indicated by a recent Alteryx survey revealing that 49% of public sector organizations plan to invest in such technologies over the next three years.
Committed to empowering public sector employees, Alteryx has a proven track record of collaboration with over 1,100 educational institutions and a multitude of government and defense customers.
Noteworthy initiatives, including partnerships with the Department of Defense SkillBridge program and the global Alteryx SparkED program, underscore Alteryx's dedication to equipping public sector professionals with the skills required to leverage AI and data analytics effectively.
Alteryx, Inc. Price and Consensus
Alteryx, Inc. price-consensus-chart | Alteryx, Inc. Quote
Expanding Portfolio to Aid Alteryx’s Prospects
The latest move is in sync with the company's effort toward strengthening its position and expanding its presence in the public sector analytics space.
During the third quarter of 2023, Alteryx introduced the Alteryx Marketplace, providing users with a curated platform to discover and access verified, creator-supported solutions that enhance the functionality of the Alteryx platform and foster business growth.
The growing demand for the Alteryx Analytics platform, which comprises AiDIN, is expected to boost prospects in the long haul.
In October, Alteryx introduced AiDIN innovations, including AI Studio, facilitating no-code users to leverage generative AI for customizing large language models (LLMs), while upcoming Playbooks automate initial analytics stages, enhancing data insights and operational agility.
AYX collaborated with TechVets in the U.K., extending its commitment to military service members globally by offering real-world industry training and certifications in data analytics through the Alteryx SparkED program for veterans and active-duty personnel.
Beyond technological advancements, Alteryx is benefiting from an expanding clientele, exemplified by its collaboration with Alphabet (GOOGL - Free Report) and Snowflake (SNOW - Free Report) .
Alteryx strengthened its collaboration with Alphabet’s Google Cloud, offering Looker Studio users seamless access to a complimentary limited version of Alteryx Designer Cloud, featuring AI-driven data preparation capabilities and improved connectivity.
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.
Fourth-Quarter View Positive
Alteryx expects fourth-quarter 2023 revenues in the range of $334-$340 million, suggesting year-over-year growth of 11-13%. The Zacks Consensus Estimate for the same is pegged at $337.39 million, suggesting a rise of 12.06%.
The consensus mark for earnings is pegged at $1.15 per share, unchanged in the past 30 days and indicating year-over-year growth of 36.9%.
Zacks Rank & Stock to Consider
Currently, AYX has Zacks Rank #2 (Buy).
The stock has declined 11.4% against the Zacks Computer & Technology sector’s return of 47.1% year to date.
A better-ranked stock in the broader technology sector is Flex (FLEX - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Flex’s shares have returned 21.8% on a year-to-date basis. The long-term earnings growth rate for FLEX is pegged at 12.39%.