Alteryx Inc AYX Shares traded 12.50% higher at $67.60 on Friday morning after the company reported better-than-expected fourth-quarter EPS and sales results.

What happened?

Alteryx reported quarterly earnings of 84 cents per share, beating analysts’ consensus estimate of 51 cents. The company reported quarterly revenue of $301.08 million, beating analysts’ consensus estimate of $279.31 million by 7.8%. This revenue figure represents a significant increase of 73.2% over revenue of $173.81 million for the same period last year.

Meanwhile, Alteryx says that GAAP net loss attributable to common shareholders was $31.7 million for the fourth quarter of 2022 compared to GAAP net loss attributable to common shareholders of $37.5 million for the fourth quarter of 2021.

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GAAP net loss per diluted share for the fourth quarter of 2022 was $0.46 based on 69.2 million weighted average GAAP diluted shares outstanding compared to a GAAP net loss per diluted share of $0.56 based on 67.5 million GAAP weighted average diluted shares outstanding for the fourth quarter of 2021.

What else?

“Alteryx delivered an excellent fourth quarter with annual recurring revenue (ARR) growth of 31% year over year, driven by continued success with large enterprises. We ended the year with strong momentum and improved operational profitability,” said Markus AndersonCEO of Alteryx, Inc.

“As we enter 2023, we have a tremendous opportunity to continue delivering compelling outcomes for our customers with enhanced sales and customer success initiatives and an expanded portfolio of offerings, including our highly differentiated end-to-end cloud platform, Alteryx Analytics.”

Updates to analyst ratings

Additionally, AYX received a number of analyst rating updates on Friday, including:

• Piper Sandler analyst Brent Bracelin remained overweight and raised the price target to $87 from $60.
• Morgan Stanley analyst Sanjit Singh claimed…