Home Stocks IPO Stocks To Watch: Alteryx Stock In Buy Range – Investor's Business Daily

IPO Stocks To Watch: Alteryx Stock In Buy Range – Investor's Business Daily

5 min read
0
89

IPO Leader Alteryx (AYX) has a powerful relative strength line, as it outperforms the broader stock market. Among IPO stocks to watch, Alteryx is trading just above a buy point.





X




Alteryx is a provider of data science and analytics software for companies. Its software accelerates the data analysis process. According to the company’s website, Alteryx delivers an end-to-end platform that unifies the analytic experience. Customers include Audi, Ford Motor (F) and McDonald’s (MCD).

The company is in the midst of a stunning turnaround, having lost 37 cents per share in 2015. Three years later, Alteryx’s loss is expected to be just 3 cents per share. Earnings are most likely due out in late February, so there is plenty of time for the breakout to take hold. Consensus estimates project the firm to post a fourth quarter loss of 2 cent a share on revenue of $57.4 million.

Oppenheimer called Alteryx one of its top picks for 2019. The analyst firm believes Alteryx is positioned to benefit from favorable secular trends driving enterprise digitization and a rise in the importance of data citizens.

IPO Stocks To Watch: Alteryx In Buy Range

IPO stock Alteryx stock is trading just above a choppy consolidation’s 67.50 buy point in today’s stock market. The 5% buy range tops out at 70.88.

Alteryx’s relative strength line is powerful. The RS line made a new high in early January and hasn’t looked back. It sits just off a new high.

According to the IBD Stock Checkup, Alteryx has a highest-possible 99 Relative Strength Rating and a strong 94 out of a highest-possible 99 IBD Composite Rating. The RS Rating measures a stock’s price performance vs. other stocks, while the Composite Rating is a blend of key fundamental and technical metrics.

Software Stocks Boast Leadership Positions

Alteryx isn’t the only software stock showing tremendous relative strength. Other software stocks to watch include Twilio (TWLO) and Veeva Systems (VEEV). Twilio stock is also a member of the IPO Leaders list. Twilio stock is trading just off its new highs.

Meanwhile, Veeva Systems is a Leaderboard stock idea. Veeva stock is trying to break out past a double bottom’s 101.49 buy point. Shares are in the 5% buy range.

The IPO Leaders list focuses on the stock market’s newest companies that are showing strong fundamental and technical metrics.

YOU MIGHT ALSO LIKE:

Get Notifications For Live IBD Videos By Subscribing On YouTube

Top Stocks Near Buy Points

Stock Market Heats Up, These 4 Stocks Approach Entries

How To Invest In Stocks: Tips For 2019

IPO Stocks To Watch

Let’s block ads! (Why?)


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Can credit unions get airplane loans off the ground? – Credit Union Journal

This is the third story in an ongoing series on niche consumer lending products at credit …