What To Expect From Alteryx’s (AYX) Q2 Earnings

Radek Strnad /
2023/08/06 7:16 am EDT

Data analytics and automation platform Alteryx will be announcing earnings results tomorrow after the bell. Here's what to expect.

Last quarter Alteryx reported revenues of $199.1 million, up 26.1% year on year, missing analyst expectations by 0.49%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and decelerating customer growth. The company lost 20 customers and ended up with a total of 8,338.

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 grow 0.72% year on year to $181.9 million, slowing down from the 50.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.67 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 6.42%.

Looking at Alteryx's peers in the data and analytics software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Commvault Systems reported flat revenue growth year on year, beating analyst estimates by 0.49%, and Confluent reported revenues up 35.8% year on year, exceeding estimates by 3.75%. Commvault Systems traded down 2.54% on the results, Confluent was up 11.2%. Read our full analysis of Commvault Systems's results here and Confluent's results here.

There has been positive sentiment among investors in the data and analytics software segment, with the stocks up on average 2.48% over the last month. Alteryx is down 12.7% during the same time, and is heading into the earnings with analysts' average price target of $66.5, compared to share price of $38.38.

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.

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