Shares of Alteryx (NYSE: AYX) dropped 28.8% last month, according to S&P Global Market Intelligence. The company's quarterly earnings results revealed dramatically slowing sales that came in well below expectations. Alteryx reported just 4% revenue growth in the second quarter, which was nearly 8% lower than Wall Street's expectation.
Palantir (NYSE: PLTR) and Alteryx (NYSE: AYX) both crunch massive amounts of information to help organizations make better data-driven decisions. Palantir's Gotham platform serves the U.S. military and other government agencies, while its Foundry platform provides commercial versions of those tools. Alteryx collects data from a company's various computing platforms, then cleans up and organizes that information so it can be easily fed to third-party data visualization services.
Share prices of Alteryx (NYSE: AYX) sank 18% on Aug. 8 after the data analytics company posted a mixed second-quarter report. Let's take a closer look at those challenges to see if it's too late to buy Alteryx's battered stock. How bad was Alteryx's slowdown?