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Appian Corp

Appian Corp

APPN
$34.76USD↑+2.03%+0.69 today

MARKET CAP

2.5B

P/E (TTM)

39.2x

FWD P/E

27.0x

DAY RANGE

$34 – $35

52W RANGE

$19
$46

AI Summary

Stalk
Sell NowMedium

Price has broken below the 9EMA/20EMA cluster with increasing volume and failed to hold the 50 SMA, indicating a shift into distribution following the recent rally. Medium-term bias is bearish in this Stage 3 distribution phase, while the long-term uptrend remains intact above the 200 DMA. Under a momentum-focused strategy, chasing weak bounces is discouraged, making a disciplined sell here the optimal posture.

  • ↑Q1 cloud subscriptions $124.5M (+25% YoY) lifted total revenue to $202.2M (+21%).
  • ↑Seven-figure software deals rose 50%, showing strong upmarket contract wins.
  • ↓Negative profitability metrics persist as high opex weigh on margins.
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The case for & against

Bull & Bear analysis

Bullish

Appian Corporation (NASDAQ: APPN) specializes in low-code automation and process management solutions for enterprises. The company integrates artificial intelligence (AI) within its software platform to enhance workflow efficiency across various sectors, including government, healthcare, and financial services. Appian seeks to capitalize on the growing demand for application modernization and intelligent software solutions, marking itself as a player in the growing AI and automation market.

Bull says

  • ↑Q1 cloud subscriptions $124.5M (+25% YoY) lifted total revenue to $202.2M (+21%).
  • ↑Seven-figure software deals rose 50%, showing strong upmarket contract wins.
  • ↑40% of customers now on AI-inclusive tiers; cloud net ARR up 115%.
  • ↑Announced $100M buyback; operating cash flow reached $48.8M.
  • ↑Adjusted EBITDA $26.6M and net income $19.8M ($0.27/sh) beat guidance.
  • ↑Strong capital structure with low leverage and high earnings yield.

Bear says

  • ↓Negative profitability metrics persist as high opex weigh on margins.
  • ↓Book-to-price flags potential overvaluation; stock volatility rose after CEO share sales.
  • ↓Intense AI automation competition risks customer churn; net revenue retention slowing.
  • ↓Reliance on federal contracts exposes revenues to budget shifts and procurement risk.
  • ↓Doubts on sustainable AI-driven growth amid macroeconomic volatility and shifting tech spend.
  • ↓Weak quality factors and elevated price volatility highlight structural financial risks.

Investment themes with APPN

Software↓ -1.57%

Cloud-based digital tools powering business productivity and innovation

MSFT · ORCL · PLTR

Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 09-12-2026bullish

Transcript signals

Bull points

  • In the second quarter of 2025, Appian's cloud subscriptions revenue grew 21% to $106.9 million.
  • In Q2, Appian's -to-market productivity ratio was 3.3. You can see on slide four, that's our eighth sequential quarterly increase. I believe there's more upside ahead.
  • our upmarket strategy is working. Powered by strong sales organization and execution, we are reaching the high value transactions where Appian belongs.
Read full transcript analysis ›