Singapore Markets closed

Why Alteryx Stock Popped 19% in January

Chris Neiger, The Motley Fool

What happened

Shares of Alteryx, Inc. (NYSE: AYX) were up 19.6% last month, according to data provided by S&P Global Market Intelligence. There wasn't any specific company-related news for the analytics software company during the month, but the share price jump followed a broader trend of rising tech stock prices in January. Additionally, investors were likely continuing their positive sentiment for Alteryx's stock, which gained an impressive 128% in 2018.

So what

Alteryx's share price jumped about 9% at the very beginning of January and continued climbing throughout the month, along with the broader Nasdaq composite (which is composed mostly of tech stocks). The Nasdaq gained about 9% during the month.

Person working at computer with bar chart superimposed on top of image.

Image source: Getty Images.

Alteryx's shares have been somewhat volatile since the company released its third-quarter 2018 results. The company's total revenue jumped 59% in the quarter and investors pushed Alteryx's stock price up 13% on that news, but shares were then flat throughout December. The latest 19% share price jump in January shows that investors will likely continue to be fickle with Alteryx's stock.

Now what

Alteryx's share price is down about 2% since the beginning of this month, but that could likely change when the company releases its fourth-quarter 2018 results on Feb 20. The company's management expects sales to be in the range of $56.5 million to $57.5 million, which would be a nearly 48% increase from the year-ago quarter. Because Alteryx's share price jumped last month without any company-specific news, investors can likely expect more volatility when the company's fourth-quarter results are released later this month.

More From The Motley Fool

Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alteryx. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy.