Appian Corp A
APPN: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$53.00 | Ksdx | Phdkzwz |
Initiating Coverage of No-Moat Appian With a $37 Fair Value Estimate
Business Strategy and Outlook
Appian is a leading provider of low-code enterprise software for business process management, or BPM, specializing in process automation. We expect digitization tailwinds to fuel demand for low-code BPM software over the coming decade, as businesses seek to drive operating efficiencies and automate manual processes. However, while we’re encouraged by the firm’s ongoing investments to support top-line growth, we expect this will be at the expense of profitability for the foreseeable future.