15% YoY Q2 revenue growth for Appian, but stock falls due to weaker Q3/full-year guidance and DA Davidson downgrade.
Appian's Q2 revenue grew 15% YoY to $146.45m, beating analysts' estimates. Despite this, Appian's stock fell due to weaker-than-expected Q3 and full-year revenue guidance and potential impact of recent layoffs. DA Davidson downgraded Appian's stock from Buy to Neutral with a target price of $33, down from $48. Appian offers an integrated automation platform for organizations to design, automate, and optimize business processes.
August 01, 2024
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