Shares of Appian (NASDAQ: APPN) were moving lower in March as the cloud stock succumbed to broader pressure on growth stocks; investors rotated out of high-priced tech stocks and into value stocks. Appian, which specializes in low-code software, seemed particularly vulnerable after shares had more than tripled in a run-up that began in November.
Full Answer
Is Appian’s growth stock being beaten down too hard?
Growth stocks in general have taken a beating recently, and Appian (NASDAQ: APPN) has been beaten down harder than most. Matt Frankel: This is Appian, ticker symbol A-P-P-N.
Can Appian (APPN) beat earnings expectations?
The company was founded in 2006, completed its initial public offering in 2014, and is headquartered in Cambridge, Massachusetts. Appian (APPN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
How do I get the latest APPN news and ratings?
- Nasdaq Sign up to receive the latest news and ratings for APPN and its competitors with MarketBeat's FREE daily newsletter. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
See more
Is Appian a good buy?
Appian has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 3 buy ratings, 2 hold ratings, and 1 sell rating.
Will Appian stock recover?
The 6 analysts offering 12-month price forecasts for Appian Corp have a median target of 57.50, with a high estimate of 77.00 and a low estimate of 37.00. The median estimate represents a +21.54% increase from the last price of 47.31.
Is Appian a good stock to buy Zacks?
How good is it? See rankings and related performance below. The VGM Score are a complementary set of indicators to use alongside the Zacks Rank....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return2Buy18.56%3Hold10.15%4Sell5.79%5Strong Sell2.83%2 more rows
Is APPN a buy or sell?
Out of 6 analysts, 3 (50%) are recommending APPN as a Strong Buy, 1 (16.67%) are recommending APPN as a Buy, 1 (16.67%) are recommending APPN as a Hold, 0 (0%) are recommending APPN as a Sell, and 1 (16.67%) are recommending APPN as a Strong Sell. What is APPN's earnings growth forecast for 2022-2024?
What does Appian corporation do?
Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded.
Is LMND a buy or sell?
Out of 8 analysts, 1 (12.5%) are recommending LMND as a Strong Buy, 3 (37.5%) are recommending LMND as a Buy, 2 (25%) are recommending LMND as a Hold, 2 (25%) are recommending LMND as a Sell, and 0 (0%) are recommending LMND as a Strong Sell.
Is APPN a good company?
APPN has a Quality Grade of C, ranking ahead of 64.9% of graded US stocks. APPN's asset turnover comes in at 0.691 -- ranking 229th of 563 Business Services stocks. SCWX, DHX, and OOMA are the stocks whose asset turnover ratios are most correlated with APPN.
What happened
Shares of Appian (NASDAQ: APPN) were sinking today in response to a broader sell-off in growth stocks amid an ongoing rotation out of high-priced tech stocks like Appian as investors anticipate rising interest rates and inflation and prepare for a more normal economic environment.
So what
The 10-year Treasury yield was up just 1% in afternoon trading after a spike earlier in the morning, but stocks were down broadly with the Nasdaq Composite off 2.4%. There were some signs of rising tensions with China as a U.S. trade representative said the U.S.
Now what
While Appian shares remain high-priced, management likely held the conference because it believes its leadership position in low-code software is not fully understood or appreciated by the market.
What is an appian?
Appian provides a low-code automation platform (LCAP), enabling clients to build intelligent applications and automate workflows with little or no coding. Compared to traditional processes, Appian's LCAP can build software 10 times faster and at half the cost. Anyone can buy prebuilt software, but Appian's LCAP allows clients to develop and implement unique solutions.
What is an appian short squeeze?
A short squeeze -- when traders betting against a company close out their position by buying more shares, which can lead to a fast-rising share price. Appian is a growing business in an increasingly important niche of IT.
Investors were spooked by rising coronavirus cases and economic data
Chris has covered Tech and Telecom companies for The Motley Fool since 2012. Follow him on Twitter for the latest tech stock coverage. Follow @tmfnewsie
What happened
Shares of Appian Corp ( NASDAQ:APPN) were falling today as investors processed information about new jobless claims and a spike in coronavirus cases in a handful of states. As of 2:58 p.m. EDT, Appian's stock was down 11.5%.
Now what
Investors across nearly every industry pushed shares down today, as worry set in that a new wave of coronavirus infections was hitting South Carolina, Florida, Arkansas, Nevada, and Oregon. The S&P 500 was down 5.3% by the middle of the afternoon.
So what
In general, investors had been very optimistic over the past few months. So it's not entirely surprising that a pullback in the market occurred today.
Another no-news move for the low-code development platform company
As a technology and consumer goods specialist for the Fool, Steve looks for responsible businesses that positively shape our lives. Then he invests accordingly. Enjoy his work? Connect with him on Twitter & Facebook so you don't miss a thing.
What happened
Shares of Appian ( NASDAQ:APPN) declined 10.2% on Wednesday despite a lack of company-specific news.
So what
That said, Appian shareholders should be accustomed to the stock's outsize volatility by now. It skyrocketed more than 50% in August, after the company announced strong second-quarter results and raised its full-year guidance.
Now what
It's worth noting that Appian shares are still up more than 70% year to date even after accounting for today's drop. So for now, I think investors would do well to ignore these kinds of no-news moves -- both positive and negative -- and focus instead on the health and momentum of Appian's underlying business.
Referenced Symbols
Appian Corp. APPN, +0.24% shares dropped in the extended session Thursday after the business process management software company's outlook fell short of Wall Street estimates. Appian shares fell 9% after hours, following a 1% rise in the regular session to close at $62.68.
More On MarketWatch
Barron's: Opinion: I’m a Former Moscow Correspondent. Don’t Let Vladimir Putin Fool You—Russia’s War in Ukraine Is Only About One Thing.
About the Author
Wallace Witkowski came to MarketWatch from the Associated Press in New York, where he was a business reporter specializing in pharmaceutical companies. He previously reported for trade publications in covering the drug and medical-device industries back to 1998. Based in San Francisco, his focus is on U.S. equities.