Shares in Irvine-based data analytics software company Alteryx Inc. (NYSE: NYX) fell more than 9% after the company issued revised four-quarter guidance. The company also announced Dean Darwin has been chosen as the new chief revenue officer.
Alteryx boosted its revenue estimate for the just-ended fourth quarter, and said full-year 2020 sales will likely be 17% to 18% higher than the previous year.
The MotleyFool.com said the shares fell because the fourth-quarter guidance was “disappointing.”
The stock fell more than 9% to $110.82 per share for a market cap of $7.4 billion, well off the highs of 2020.
Still, the Alteryx statement of estimated earnings is an indication that the company has weathered the COVID-19 storm.
Revenue for the fourth quarter ended Dec. 31 is now expected to be in the range of $155 million to $158 million, which would represent a year-over-year quarterly change ranging from a decrease of 1% to an increase of 1%. The latest estimate is well ahead of the previously issued guidance of $146 million to $150 million for the fourth quarter.
Revenue for the full year ended December 31, 2020 is now expected to be in the range of $490 million to $493 million, representing 17% to 18% year-over-year growth. The latest estimate is ahead of the previously issued guidance of $481 million to $485 million. Full-year results will be released on Feb. 9.
Darwin, who previously served as the senior vice president and general manager at Palo Alto Networks, will replace Scott Jones as chief revenue officer. Jones will transition his responsibilities to Darwin this month.