On Monday, oil stocks were the rage. But tech is now back. Alteryx, a cloud-based software company that specializes in data analytics, has been on a tear all year. Alteryx's Relative Strength Rating (RS) rose to 75 on Monday, a rating that is good but not great. The rating is only one part of the picture. Alteryx's stock was trading at 39.55 per share on Dec. 7. By February 14, it had risen 79% to a high of 70.63. Since then, it's been consolidated.
When they start their largest runs, the stocks with the highest RS Ratings are the ones to watch. Check if Alteryx is able to continue showing renewed price strength.
What are the best stocks to buy and watch? Start here
The small-cap Alteryx has a Composite Rating of 94 out of 99.
IBD Composite Rating is a simple rating that combines five proprietary ratings for fundamental and technical performance. The Composite Rating should be 90 or higher for the best growth stocks.
Alteryx's stock formed a cup-shaped base recently with a buy point of 69.56. The stock briefly rose above the buy point and then dropped back. It has been moving sideways since March and closed Monday at 58.08, up 47% on the low of December and down 1.3%. Check to see if Irvine, Calif., software maker, can form a pattern that would launch a new move. For example, a tight three-weeks or flat base.
Last quarter, earnings jumped 367% to 84 cents a share. Sales soared 73% to $301.1 Million. Over the last four quarters sales have grown from 33%, to 50%, then 75%, and finally 73% in the most recent quarter. Profits are harder to come by. Last quarter, the company turned profitable after three quarters of losses. The next quarter's numbers will be released on or about May 2.
Alteryx is ranked No.3 among its peers in the Computer Software-Database industry group. The Computer Software-Database Industry Group ranks Alteryx stock No. Progress Software (PRGS), Oracle (ORCL), and other stocks in the Computer Software-Database industry group are also highly rated.
Follow James DeTar @URL_ on Twitter
You may also like:
IBD Stock Rating Upgrades: Rising Relative Strength
Why should you use IBD's relative strength rating?
The Relative Strength Line can help you judge a stock
IBD Leaderboard helps you find the best stocks near a buy point
MarketSmith: Charts, data, and coaching all in one place
Investor's Business Daily published Alteryx Stock Rating Upgrade after Profits Spike 367%.