Alteryx (AYX) – Get Report shares jumped on Tuesday after the data-analytics-software company raised its sales outlook and named a new chief executive.
The company now expects third-quarter revenue of $126 million to $128 million, representing 22% to 24% growth from a year earlier.
Those figures top the company’s previous guidance of $111 million to $115 million. Alteryx plans to report results on Nov. 5.
Its shares recently traded at $142.25, up 25%. They’d risen 14% year to date through Monday. The stock of the Irvine, Calif., company had risen 51% since touching a 52-week low above $75 in mid-March. The stock traded at a 52-week high above $185 in mid-July.
As for the personnel move, Alteryx named Mark Anderson, a current board member, as CEO, succeeding Alteryx Co-Founder Dean Stoecker.
Anderson formerly was president of Palo Alto Networks. (PANW) – Get Report He also worked at Anaplan (PLAN) – Get Report and Cisco Systems. (CSCO) – Get Report
Alteryx named Stoecker executive chairman.
Stoecker said in a statement that beginning 23 years ago he had scaled Alteryx “from one client and three employees to a global leader in the analytics market with over 1,500 employees, over 6,700 customers and 18 offices” worldwide.
In an interview with TheStreet.com in May, Alteryx Chief Financial Officer Kevin Rubin said the company was “really automating business process that is convergent with data and analytics to help make better decisions through the people that monitor those processes.”
That meant “[essentially] transforming how businesses are leveraging their data assets, optimizing process and upscaling their individuals,” he said.