Appian upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Sanjit Singh upgraded Appian (APPN) to Overweight from Equal Weight with an unchanged price target of $45 as the firm thinks the market’s misperception of Appian’s positioning creates opportunity. With early traction in customer adoption of its AI-related subscription tiers, Federal poised for strong growth and recent go-to-market changes translating into improved sales productivity, the firm thinks Appian has the ability to sustain at least mid-teens growth in 2026 and beyond, the analyst tells investors.