William Blair analyst Jake Roberge has maintained their neutral stance on APPN stock, giving a Hold rating on July 30.
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Jake Roberge’s rating is based on Appian’s strong quarterly performance, where the company exceeded expectations in several key areas. The cloud revenue growth accelerated to 21%, surpassing the consensus estimate of 16%, and the adjusted EBITDA was $8 million, which was better than the anticipated -2% margin. Despite some positive impact from foreign exchange rates, the growth was still impressive on a constant-currency basis, indicating robust underlying performance.
Additionally, the demand from the public sector remains strong, with federal sector growth outpacing the global business in cloud revenue, new bookings, and software pipeline. Appian’s platform is also benefiting from the increasing demand for AI solutions, which are seeing a 25% pricing uplift. While these factors are encouraging, the Hold rating suggests a cautious approach, possibly due to uncertainties or potential risks not explicitly detailed in the report.
In another report released on July 30, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $30.00 price target.