Although you wouldn't know it on Monday when oil stocks ruled the day, tech is back in favor. Cloud-based data analytics software maker Alteryx is among the tech companies that have been on a tear this year. On Monday the Relative Strength (RS) Rating for Alteryx stock climbed to 75, a good but not yet great rating. But the raised rating tells only part of the story. On Dec. 7, Alteryx stock traded at 39.55 a share. It shot up about 79% by Feb. 14 to an intraday high 70.63. It's consolidated since then.
Research shows that the best stocks to buy and watch, ones that go on to make the biggest gains, typically have an 80 or better RS Rating as they begin their biggest runs. See if Alteryx can continue to show renewed price strength and clear that threshold.
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Alteryx Stock In Top 6% Overall
Alteryx also has a 72 Earnings Per Share Rating. Its B- Accumulation/Distribution Rating shows that mutual funds, ETFs and the like are fairly heavy buyers. And small-cap Alteryx stock has a powerful 94 Composite Rating, out of 99.
IBD's Composite Rating combines five separate proprietary ratings of fundamental and technical performance into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
Alteryx stock recently formed a cup base with a 69.56 buy point. It briefly topped the buy point, and then fell back. It's moved sideways since mid-March and closed at 58.08 Monday, up about 47% from the December low and down 1.3% for the day. See if the Irvine, Calif.-based software maker can form a sound pattern that could launch a new move, such as a three-weeks-tight or a flat base.
Earnings Growth Catching Up With Sales?
Earnings spiked 367% last quarter to 84 cents per share on a 73% leap in sales to $301.1 million. Sales growth has been strong over the past four quarters, rising from 33% to 50%, 75% and then 73% last quarter. Profits have been harder to come by. The company posted three quarters of losses before turning profitable last quarter. The next quarterly numbers are expected on or around May 2.
Alteryx stock earns the No. 3 rank among its peers in the Computer Software-Database industry group. Progress Software and Oracle are also among the group's highest-rated stocks.
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