Why Alteryx Stock Plunged Today
Shares of Alteryx (NYSE: AYX) were taking a dive today after the maker of cloud-based data analytics software posted a disappointing second-quarter earnings report, showing clear headwinds from the coronavirus pandemic. Alteryx said revenue in the quarter increased 17% to $96.2 million, which beat estimates at $93.8 million as well as the company's own guidance of 10% to 15% top-line growth. Other bright spots included annual recurring revenue growth of 40% to $430 million, and a dollar-based net expansion rate of 126%, meaning existing customers increased their spending with the company by 26% from a year ago.
