Investors focused on the Computer and Technology space have likely heard of Alteryx (AYX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AYX and the rest of the Computer and Technology group's stocks.
Alteryx is one of 659 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AYX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AYX's full-year earnings has moved 33.62% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AYX has returned about 136.84% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 0.15%. As we can see, Alteryx is performing better than its sector in the calendar year.
To break things down more, AYX belongs to the Internet - Software industry, a group that includes 89 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 10.30% this year, meaning that AYX is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on AYX as it attempts to continue its solid performance.