After Roller-Coaster Ride, Where Does Appian Stock Go Now?

·4 min read
After Roller-Coaster Ride, Where Does Appian Stock Go Now?

Since the beginning of November, the stock price has more than tripled, helped by a strong third-quarter earnings report, a possible short squeeze, and a broader rally in growth stocks. Total revenue rose 12.7% to $88.9 million, well ahead of the analyst consensus at $82.7 million, and cloud subscription revenue, the company's biggest priority, rose 38% to $39.1 million. The company forecast $77 million to $78 million, or 15% to 17% growth, which was below estimates at $84.1 million, and it projected a wider bottom-line loss than expected.

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