Cloud Stocks: Alteryx Focuses On The User And Partner Community

Within the partner ecosystem, it continued to add players to drive strategic go-to-market and technology strengths. It announced a partnership with Blue Prism which will allow customers to have a choice of Robotic Process Automation (RPA) vendors. It is also seeing traction with its Snowflake (SNOW) alliance that was launched earlier this year.

Recently, it also entered into a distribution tie-up with Tech Data (TECD). Tech Data’s end-to-end portfolio of products, services, and solutions enable channel partners to bring to market the products and solutions needed to connect with each other. As part of the partnership, Tech Data and its partners will now have access to the Alteryx unified platform to leverage its analytics, data science, and process automation capabilities. Together, the companies expect to drive growth, expand market reach, and grow the network of value-added resellers.

Additionally, Alteryx has also been adding to its senior leadership. Recently, it announced the addition of former SAP and Cisco executive Paula Hansen as its Chief Revenue Officer. Earlier this year, it had added former Google executive Anjali Joshi to its board of directors and former Adobe executive Suresh Vittal as its Chief Product Officer.

It has recently been trading at around $75.74 with a market cap of $5.24 billion. It hit a 52-week high of $185.75 in July last year and a 52-week low of $74.72 earlier this month.

The stock has been struggling on account of its subdued revenue performance. Alteryx’s revenue was doubling at the start of 2020, and that growth has now dwindled to less than 10%. Analysts are hopeful of a rebound. The pandemic was not too kind to Alteryx, as most IT departments had put their large IT infrastructure projects on hold to focus on cloud and digital offerings. With budgets now opening up, demand for Alteryx should begin to grow. The slump should end soon.

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Disclosure: I am an investor in this company.

 All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article ...

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