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Appian Corp A APPN

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Stock XNAS Rating as of
$36.20 −0.46 (1.25%)
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As of Delayed Price Closed
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Company Report

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Appian: AWS Partnership and AI-Infused Platform Upgrades Bolster Process Automation Offering

Emma Williams

No-moat Appian announced preliminary first-quarter 2024 results at the firm’s annual customer conference, Appian World, which met our top-line expectations and slightly exceeded our non-GAAP adjusted EBITDA forecasts. Based on this announcement, we make no changes to our $42 fair value estimate and will update our valuation model once full results come out around early May. On a risk-adjusted basis, Appian shares continue to screen as fairly valued.

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Price vs Fair Value

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APPN is trading at a 16% discount.
Price
$35.12
Fair Value
$79.00
Uncertainty
Very High
1-Star Price
$47.60
5-Star Price
$32.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Appian’s cloud retention metrics are strong, indicating that once customers are on the platform, they rarely leave.

Bears

Appian has yet to turn a GAAP profit, and faces continued competition from Pegasystems, as well as larger companies such as Salesforce and ServiceNow.

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News

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Trading Information

Previous Close Price
$36.66
Day Range
$35.06–36.41
52-Week Range
$30.87–54.26
Bid/Ask
$36.15 / $36.21
Market Cap
$2.66 Bil
Volume/Avg
512,207 / 536,274

Key Statistics

Price/Earnings (Normalized)
—
Price/Sales
4.85
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

Appian is a low-code enterprise platform-as-a-service company focusing on business process management. The Appian platform is an integrated automation platform providing tools for organizations to design, automate, and optimize end-to-end processes and complex business operations. Capabilities include case management, robotic process automation, artificial intelligence, data fabric, and process mining. Most of Appian’s revenue is subscription based with the remainder from services, with much of its subscription revenue being derived from its cloud-based platform, Appian Cloud.
Sector
Technology
Industry
Software - Infrastructure
Stock Style Box
Small Core
Total Number of Employees
2,243
Website
https://www.appian.com

Competitors

Valuation

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Metric
APPN
NOW
CRM
Price/Earnings (Normalized)
 —69.2933.52
Price/Book Value
 50.7418.914.50
Price/Sales
 4.8516.267.80
Price/Cash Flow
 —40.9020.77
Price/Earnings
APPN
NOW
CRM

Financial Strength

Metric
APPN
NOW
CRM
Quick Ratio
 0.890.940.96
Current Ratio
 1.121.061.09
Interest Coverage
 −5.0630.4218.87
Quick Ratio
APPN
NOW
CRM

Profitability

Metric
APPN
NOW
CRM
Return on Assets (Normalized)
 −9.63%14.90%8.50%
Return on Equity (Normalized)
 −63.93%34.22%13.87%
Return on Invested Capital (Normalized)
 −12.85%22.89%11.66%
Return on Assets
APPN
NOW
CRM
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