Alteryx (AYX) Q3 Earnings: What To Expect

Adam Hejl /
2023/11/05 2:01 am EST

Data analytics and automation platform Alteryx will be reporting earnings today. Here's what you need to know.

Last quarter Alteryx reported revenues of $188 million, up 3.9% year on year, beating analyst revenue expectations by 3.3%. It was a weak quarter for the company, with ARR, revenue, and non-GAAP operating income guidance for next quarter all missing expectations.

Is Alteryx buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Alteryx's revenue to decline 2.5% year on year to $210.2 million, a further deceleration on the 74.7% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.06 per share.

Alteryx Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 6.1%.

Looking at Alteryx's peers in the data and analytics software segment, some of them have already reported Q3 earnings results, giving us a hint what we can expect. Palantir delivered top-line growth of 16.8% year on year, beating analyst estimates by 0.4% and Commvault Systems reported revenues up 6.9% year on year, exceeding estimates by 3%. Palantir traded up 12.8% on the results, and Commvault Systems was flat on the results.

Read our full analysis of Palantir's results here and Commvault Systems's results here.

Tech stocks have been facing declining investor sentiment since 2022 and while some of the data and analytics software stocks have fared somewhat better, they have not been spared, with share price declining 2.7% over the last month. Alteryx is down 11.3% during the same time, and is heading into the earnings with analyst price target of $47.1, compared to share price of $32.81.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

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The author has no position in any of the stocks mentioned.