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Increased Earnings Estimates Seen for Alteryx (AYX): Can It Move Higher?

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Alteryx, Inc. (AYX - Free Report) is a leading provider of self-service data analytics software that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AYX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Alteryx could be a solid choice for investors.

Current Quarter Estimates for AYX

In the past 30 days, six estimates have gone higher for Alteryx while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 9 cents a share 30 days ago, to a loss of 2 cents today, a move of 77.8%.

Current Year Estimates for AYX

Meanwhile, Alteryx’s current year figures are also looking quite promising, with eight estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 25 cents per share 30 days ago to a loss of 4 cents per share today, an increase of 84%.

Alteryx, Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 10.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1(Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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