
Appian (APPN) Stock Forecast & Price Target
Appian (APPN) Analyst Ratings
Bulls say
Appian's revenue from federal government customers increased to 23% in 2Q24, signaling a growing reliance on government contracts alongside a projected company growth rate of approximately 18% for CY24. The backlog has shown strong performance, growing 22% year-over-year to $469 million, supported by the company's ongoing focus on digital workflow automation and recent increases in artificial intelligence usage among clients. Additionally, Appian has reaffirmed its guidance for a 15% growth in Cloud Subscriptions and an overall 12% growth for the full year 2024, indicating a positive outlook based on stable subscription revenue and growth initiatives.
Bears say
Appian's negative outlook is underscored by a sequential decline in net revenue retention (NRR) to 118% from 120%, indicating slowing growth in subscription renewals. Additionally, the company has issued disappointing guidance for EBITDA, expecting a loss between -$3.0 million and -$3.0 million, while also projecting earnings per share (EPS) within a range of -$0.06 to -$0.52, further emphasizing challenges in profitability. Furthermore, Appian's adjusted total revenue guidance for calendar year 2024 has been reduced to $610 million to $615 million, which reflects a deceleration in cloud subscription revenue and overall projected growth of only 12.3% at the midpoint.
This aggregate rating is based on analysts' research of Appian and is not a guaranteed prediction by Public.com or investment advice.
Appian (APPN) Analyst Forecast & Price Prediction
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