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Alteryx (AYX) Stock Surges After Updating Q3 Revenue Guidance

Practice Stock Trading
Updated: 06 October 2020

Data analytics specialist Alteryx (NYSE: AYX) shares have surged 21% after the company upgraded its third-quarter revenue guidance and announced its new CEO. 

Alteryx stated that it now expects the company's total revenue for the third quarter, which ended on the 30th of September, to be in the range of $126 million to $128 million, above the previous guidance of $111 million to $115 million.

The updated revenue guidance represents a 22% to 24% increase year on year. 

The company also announced the appointment of Mark Anderson, who will replace Dean Stoecker as CEO.

Anderson is a current member of Alteryx's board of directors and is the former president of Palo Alto Networks. 

“Digital transformation is accelerating globally and Alteryx's product vision and strategic positioning align closely with the market convergence of people, process and data. Building and enabling high performing teams – especially at Alteryx's stage – is my professional and personal passion,” said Anderson.

Stoecker has been appointed as the company's executive chairman.

Alteryx Stock…

Alteryx's share price jumped after the announcement and is currently trading at $142.50 in premarket trading on Tuesday, up 25.13% from Monday's close of $113.88.

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