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Appian (APPN) Rides on Strong Product Portfolio, Partner Base
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Appian (APPN - Free Report) is riding on a strong product portfolio delivering end-to-end process automation, data fabric, optimization and total experience. An eExpanding partner base has been a tailwind.
Appian’s shares have gained 24% year to date compared with the Zacks Computer and Technology sector’s increase of 19.8% over the same time frame.
Its recent outperformance exhibits the adoption of its robust mission-critical solutions by various customers, including government agencies, consistent innovation and a growing partner base. This reflects positive traction in its subscription and on-premise license revenue stream.
Appian banks on a strong and growing ecosystem of partners with the likes of Accenture (ACN - Free Report) and GuidewireSoftware (GWRE - Free Report) , helping customers to achieve digital transformation initiatives and delivering customer value at scale.
Appian along with its long-term consulting partner, Accenture, recently announced its partnership with Guidewire to integrate the Appian platform with Guidewire Cloud APIs and the Jutro Digital Platform.
Appian’s Low-Code Process Automation Platform perfectly complements Guidewire’s cloud-first strategy featuring end-to-end automation of complex insurance processes across systems.
Appian’s long-term partnership with Accenture also addresses the growing complexity within auto and equipment finance organizations. The Orchestration solution built in this collaboration seeks to provide intelligent automation to streamline the system.
Appian’s strong product pipeline stands in its favor to gain customer confidence and accreditations from governments worldwide. Customers operating in the area of defense and security choose Appian to accelerate mission attainment through process automation.
In the first quarter of 2023, Appian was adopted and certified by the U.S., UK, Spanish and Australian governments with its cyber security, cloud services and low-code solutions. This enabled rapid IT modernization and automation of critical business processes.
Appian Faces Stiff Competition
Appian has been affected by increased competition as well as innovations by new and existing competitors. Such competitors offer broader solutions at low cost in order to enhance their overall relationships with current or potential customers.
The adoption of Appian’s low-code development platforms has been stiff due to its uncertainty in the market and stiff competition with enterprises like Salesforce (CRM - Free Report) which provides similar services.
Shares of Salesforce have increased 46.8% year to date, outperforming Appian.
Moreover, Appian expects to fail in meeting its guidance for the first quarter of 2023 due to factors like global economic uncertainty, risks in subscriptions sold to heavily regulated government agencies, long sales cycles and single-product dependency.
For the first quarter of 2023, Appian expects revenues between $130 million and $132 million. It also targets a cloud subscription revenue retention rate ranging between 110-120%.
The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $131.14 million, indicating growth of 14.77% from the year-ago quarter’s reported figure.
The consensus mark for loss has remained unchanged at 30 cents per share in the past 30 days.
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Appian (APPN) Rides on Strong Product Portfolio, Partner Base
Appian (APPN - Free Report) is riding on a strong product portfolio delivering end-to-end process automation, data fabric, optimization and total experience. An eExpanding partner base has been a tailwind.
Appian’s shares have gained 24% year to date compared with the Zacks Computer and Technology sector’s increase of 19.8% over the same time frame.
Its recent outperformance exhibits the adoption of its robust mission-critical solutions by various customers, including government agencies, consistent innovation and a growing partner base. This reflects positive traction in its subscription and on-premise license revenue stream.
Appian banks on a strong and growing ecosystem of partners with the likes of Accenture (ACN - Free Report) and Guidewire Software (GWRE - Free Report) , helping customers to achieve digital transformation initiatives and delivering customer value at scale.
Appian Corporation Price and Consensus
Appian Corporation price-consensus-chart | Appian Corporation Quote
Appian along with its long-term consulting partner, Accenture, recently announced its partnership with Guidewire to integrate the Appian platform with Guidewire Cloud APIs and the Jutro Digital Platform.
Appian’s Low-Code Process Automation Platform perfectly complements Guidewire’s cloud-first strategy featuring end-to-end automation of complex insurance processes across systems.
Appian’s long-term partnership with Accenture also addresses the growing complexity within auto and equipment finance organizations. The Orchestration solution built in this collaboration seeks to provide intelligent automation to streamline the system.
Appian’s strong product pipeline stands in its favor to gain customer confidence and accreditations from governments worldwide. Customers operating in the area of defense and security choose Appian to accelerate mission attainment through process automation.
In the first quarter of 2023, Appian was adopted and certified by the U.S., UK, Spanish and Australian governments with its cyber security, cloud services and low-code solutions. This enabled rapid IT modernization and automation of critical business processes.
Appian Faces Stiff Competition
Appian has been affected by increased competition as well as innovations by new and existing competitors. Such competitors offer broader solutions at low cost in order to enhance their overall relationships with current or potential customers.
The adoption of Appian’s low-code development platforms has been stiff due to its uncertainty in the market and stiff competition with enterprises like Salesforce (CRM - Free Report) which provides similar services.
Shares of Salesforce have increased 46.8% year to date, outperforming Appian.
Moreover, Appian expects to fail in meeting its guidance for the first quarter of 2023 due to factors like global economic uncertainty, risks in subscriptions sold to heavily regulated government agencies, long sales cycles and single-product dependency.
This Zacks Rank #3 (Hold) company’s first-quarter 2023 earnings are pegged between a loss of 33 cents per share and a loss of 27 cents per share. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the first quarter of 2023, Appian expects revenues between $130 million and $132 million. It also targets a cloud subscription revenue retention rate ranging between 110-120%.
The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $131.14 million, indicating growth of 14.77% from the year-ago quarter’s reported figure.
The consensus mark for loss has remained unchanged at 30 cents per share in the past 30 days.