Alteryx News: Why AYX Stock Is Crashing 28% Lower Today

Alteryx (NYSE:AYX) is in the news Friday after as its earnings report for the second quarter of 2020 continues to drop AYX stock lower. The earnings report includes adjusted earnings per share of 2 cents on revenue of $96.23 million. For comparison, Wall Street’s estimates were -14 cents per share and revenue of $94.11 million.

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Let’s take a deeper look into the most recent Alteryx earnings report.

  • Adjusted per-share earnings are up 100% from 1 cent during the same time last year.
  • Revenue for the quarter comes in 17% higher than the $82.04 million reported in Q2 2019.
  • Operating loss of $17.79 million is 114.6% wider year-over-year from -$8.29 million.
  • The Alteryx earnings report also has net loss coming in at $35.29 million.
  • That’s 996% worse than the company’s net loss of $3.22 million from the same period of the year prior.

Dean Stoecker, CEO of Alteryx, said this in the earnings news release.

“While we experienced a slowdown in the second quarter driven by the global impact of COVID-19, we believe that the global opportunity for analytics and automation solutions remains significant, and we believe Alteryx remains well positioned as a leader in the space.”

Alteryx guidance for the full year of 2020 isn’t helping AYX stock. The company is expecting revenue to range from $460 million to $465 million. Unfortunately, Wall Street is estimating revenue of $505.17 million for the year.

Adding to that trouble, several analysts are taking a negative stance on the stock. That includes a downgrade from Guggenheim, as well as price drops from it and Piper Sandler.

AYX stock was down 28.2% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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