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Appian Corp. (APPN)
NASDAQInformation TechnologySoftware - InfrastructureSnapshot 2026-06-16
Watch· this week
$22.80-2.02%
Close 2026-06-16 · 1-day change
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
The bottom line
Recent financial performance is neutral, and earnings quality is robust, cash backs up reported profits. Management's recent track record has been fairly steady, while risk is high. The sector backdrop is a tailwind, and compared with sector peers, APPN is typical. Peer multiples imply a price roughly in line with where it trades (about fair); the read is fair. If APPN cuts guidance on the next call, that could be a meaningful negative. This read is provisional.
as of 2026-06-16
Quick facts
- Exchange
- NASDAQ
- Sector
- Information Technology
- Industry
- Software - Infrastructure
- Market cap
- $1.76B
- Employees
- 2,149
- IPO date
- 2017-04-27
- Next earnings
- 2026-08-06
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 7 valuation methods, at three horizons. Current price $22.80. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryfair
$22.51consensus
Range $20.30 – $32.25
vs price: +1% above
Method agreement — · 7 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$73.57consensus
Range $67.71 – $82.52
vs price: -69% below
Method agreement — · 4 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Aligned with peershigh confidence
At $23 APPN trades at 31× p/e, in line with its 28× p/e peer median. Our $23 fair value reflects that, high confidence. Analysts: $21–$41. Not investment advice.
Multiple (P/E)
31.3x
peer 27.5x · own history —
Premium
1.1x peer
Growth the price needs
3%
our forecast 20%
Our fair value
$22.54
range $20.78 – $32.86
Analyst range(a guide on our number, not a target)Our number is in the analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
fair12-month view
What's priced inJustified
The market is pricing in roughly 3% near-term growth, below our forecast of about 20%. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Compared to peers
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
neutralOperating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated neutral grew net income 54% of the time over the next year (vs 68% for the rest of the cohort, n=3704).
48th pctl · Information Technology
Earnings quality
robustOver the trailing year it converted 75.83x of net income into operating cash flow. Historically, Information Technology names rated robust grew net income 69% of the time over the next year (vs 55% for the rest of the cohort, n=2129).
99th pctl · Information Technology
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, Fed net liquidity, real (inflation-adjusted) rates, long-term interest rates.
Management & capital allocation
neutralEarnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
Strongly bearishEPS revised -96.4% / 30d, n=7for period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $0.09 → $0.00 (-96.4% / 30d). 0 raised, 0 cut, 7 covering analysts.
Rating actions
0 upgrades, 0 downgrades / 30d. 14% of analysts rate Buy.
Sector context
Intermediate · WeeklySector phase: information technology is in maturing, with decelerating (~0.2 years in phase).
Sector regime (90d momentum): tailwind.Secular epoch: Growth by revenue growth · theme AI/accelerated-compute.Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: neutral
- Capital allocation
- neutral
- Earnings discipline
- neutral
- Margin discipline
- neutral
- Balance sheet
- strong
- Post-call reaction
- weak
Met or beat guidance 100% of the last 1 guided quarters · 50.0% avg surprise
as of 2026-06-16
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$204.
How much price usually moves either way.
On a bad day, this stock has moved -$545.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $5,898.
Deepest peak-to-trough drop in the last year.
highas of 2026-06-16
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- label change · valuation_labelsmall change
Valuation label changed from 'full' to 'fair'.
As of June 16, 2026, the valuation changed, moving from full to fair. Risk fell. The sector backdrop remains a tailwind. The management score is neutral, indicating no significant change in management quality.
as of 2026-06-16
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- DownsideMedium confidenceMonthsactive 4d
Watch for revenue growth dropping below median
Why it matters: A drop in revenue growth signals a potential slowdown in the sector. This could affect Appian's performance.
What confirms / what disproves
Confirms:Sector revenue growth falls below its median rate.
Disproves:Sector revenue growth remains above its median rate.
Sector context
as of 2026-06-15
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for APPN yet.
This sector is also watching
- Watch for revenue growth in IT sector dropping below median
- Watch for FOMC decisions impacting tech investment
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for APPN and other Tech names, since rate-sensitive parts of the market tend to rally when the Fed eases.
- If sector bellwethers like MSFT, ORCL, and PLTR keep beating earnings and guiding higher, the Tech sector momentum should keep lifting APPN and other Tech names. Worth watching these names for early signals.
- If APPN raises forward guidance on the next earnings call (currently NEW as of 2026-05-07), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
Downside triggers
- If APPN cuts guidance on the next call (currently NEW as of 2026-05-07), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like MSFT, ORCL, and PLTR start missing or guiding lower, the Tech tailwind helping APPN and other Tech names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-071mo agoItem 2.02
Results of Operations and Financial Condition. On May 7, 2026 , Appian Corporation (the "Company") issued a press release announcing its financial results for the first quarter ended March 31, 2026, as well as information regarding a conference call to discuss these financial results and the Company's recent business highlights and financial outlook. The Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information included in
Earnings preannouncementpositive
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
+1.4 vs last weeklatest as of 2026-06-16
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.