Appian Corporation Class A Common Stock (APPN)
Appian Corporation (APPN) is a software company specializing in low-code automation platforms that enable organizations to rapidly build, deploy, and manage custom applications and workflows. Founded in 1999, it focuses on improving business processes and operational efficiency through its cloud-based and on-premise solutions.
Company News
Appian reported strong Q2 earnings with 17% revenue growth, driven by AI technology investments. The company's cloud subscription revenue rose 21%, and it demonstrated improved cost efficiency, breaking even on an adjusted basis.
Asante Gold Corporation has received $470 million in credit and equity commitments, including a $175 million financing package from Appian and a $170 million credit commitment from RMB. The company has also received conditional acceptance for listing on the TSX Venture Exchange.
Abdiel Capital Advisors LP and its related entities have purchased approximately $18.9 million worth of Appian Corp (NASDAQ:APPN) shares, reflecting their strong interest in the software company.
In the last three months, 5 analysts have published ratings on Appian (NASDAQ:APPN), offering a diverse range of perspectives from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 1 2 0 Last 30D 0 0 0 1 0 1M Ago 0 0 0 1 0 2M Ago 1 0 1 0 0 3M Ago 0 1 0 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $44.4, a high estimate of $52.00, and a low estimate of $32.00. Surpassing the previous average price target of $43.80, the current average has increased by 1.37%. Exploring Analyst Ratings: An In-Depth Overview The analysis of recent analyst actions sheds light on the perception of Appian by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Raimo Lenschow Barclays Lowers Underweight $32.00 $36.00 Raimo Lenschow Barclays Raises Underweight $36.00 $35.00 Steven Enders Citigroup Raises Neutral $52.00 $48.00 Gil Luria DA Davidson Lowers Buy $52.00 $55.00 Thomas Blakey Keybanc Raises Overweight $50.00 $45.00 Key Insights: Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments ...Full story available on Benzinga.com
While the top- and bottom-line numbers for Appian (APPN) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
