Appian (APPN - Free Report) recently announced a technology partnership and integration initiative with Celonis, a provider of AI-enhanced process mining and process excellence software.
The partnership will allow Appian to integrate its low code automation platform with Celonis’ powerful process mining technology, Intelligent Business Cloud (IBC), and accelerate digital business process transformation and joint customers.
The initial integration between the two companies will enable Celonis IBC users to seamlessly connect to Appian for process mining across the Appian environment.
Partnerships & Acquisitions Aid Prospects
This partnership is in line with Appian’s focus on driving innovation and continuous improvement on its platform.
Notably, the company acquired Novayre Solutions SL, a developer of the Jidoka robotic process automation (RPA) platform on Jan 7, 2020. The acquisition makes Appian a one-stop shop for Automation, with best-in-class solutions for workflow, AI and RPA.
Moreover, in May 2019, the company partnered with Twilio to integrate its communication platform into the Appian Intelligent Contact Center (ICC) solution, which allows clients to better engage with their customers across any channel.
Appian also partnered with UiPath, a leading enterprise RPA software company, to drive fast and high impact digital automation for enterprises. The alliance enables joint customers to integrate their RPA and business process management initiatives.
These endeavors have helped the company to differentiate itself, allowing it to sell to new organizations and expand within its existing customers. Appian has also been able to expand its footprint in international markets.
In October 2019, Naturgy, a leading multinational energy provider in Spain, chose Appian’s low code platform to digitize innovation management operations and accelerate the company’s transformation process.
Moreover, Anglian Water, the largest water and water recycling company in England and Wales, selected Appian to accelerate the development of new digital business applications in September 2019.
These client wins have aided the company’s top-line growth. Notably, Appian generated revenues of $69.4 million in third-quarter 2019, up 26% from the year-ago quarter.
Notably, the Zacks Consensus Estimate for fourth-quarter 2019 revenues is pegged at $69.7 million, indicating growth of 15.7% from the figure reported in the year-ago quarter.
Additionally, the consensus mark for the bottom line is pegged at a loss of 14 cents per share, unchanged over the last 30 days.
Zacks Rank & Stocks to Consider
Currently, Appian carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include Cyberoptics Corporation (CYBE - Free Report) , Fortinet, Inc (FTNT - Free Report) and Applied Materials, Inc. (AMAT - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Cyberoptics, Fortinet and Applied Materials is currently pegged at 12%, 14% and 8.2%, respectively.
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