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Alteryx Rises After Posting Stronger-Than-Expected Results

Shares of Alteryx rose after the developer of data-analytics software narrowed its first-quarter adjusted loss on a 9% rise in revenue.

Shares of Alteryx  (AYX) - Get Report advanced Wednesday after the data-analytics-software company reported stronger-than-expected first-quarter results.

Shares of the Irvine, Calif., company at last check rose 8.5% to $82.87.

Alteryx's first-quarter GAAP net loss widened to $40.6 million, or 61 cents a share, from $15.4 million, or 24 cents a share, in the year-ago period.

The latest adjusted net loss, 8 cents a share, was narrower than the FactSet consensus estimate of a loss of 23 cents a share. 

Revenue rose 9% to $118.8 million from $108.8 million in the year-ago period. The latest figure exceeded the FactSet estimate of $106.1 million.

The first-quarter results were "ahead of expectations as we see our transformation efforts taking hold,” Chief Executive Mark Anderson said in a statement.

Alteryx enables non-technical users to blend and visualize corporate data residing in sources ranging from Hadoop to spreadsheets.

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"We are encouraged by industry tailwinds and are increasing investments in people and infrastructure," he added.

Alteryx expects an adjusted net loss of 24 cents to 27 cents a share for the second quarter. Revenue should come in between $111 million and $114 million.

FactSet's survey is calling for a second-quarter loss of 64 cents a share on revenue of $113.3 million.

For all of 2021, Alteryx guided for an adjusted bottom line ranging from a loss of 7 cents a share to a profit of 7 cents a share as revenue registers $565 million to $575 million.

That compares with the FactSet analyst consensus estimates of an adjusted loss of 1 cent a share on $569 million of revenue.

Rosenblatt analyst Blair Abernethy lowered his price target on Alteryx to $130 from $145 while maintaining a buy rating on the stock.