For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Alteryx (AYX - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Alteryx is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AYX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AYX's full-year earnings has moved 203.57% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AYX has returned about 61.06% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 16.78%. As we can see, Alteryx is performing better than its sector in the calendar year.
Looking more specifically, AYX belongs to the Internet - Software industry, a group that includes 83 individual stocks and currently sits at #90 in the Zacks Industry Rank. Stocks in this group have gained about 31.55% so far this year, so AYX is performing better this group 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.