APPN Stock Analysis: Appian | NASDAQ

Process Automation, Low-Code, Artificial Intelligence, Data Fabric

Total Rating 45

Safety 30

Buy Signal 1.41

Software - Infrastructure
Industry Rotation: +3.3

Market Cap: 2.49B
Avg Turnover: 25.5M

Risk 3d forecast

Volatility53.4%

VaR 5^th Pctl8.93%

VaR vs Median1.55%

Reward TTM

Sharpe Ratio0.50

Rel. Str. IBD84.2

Rel. Str. Peer Group70.2

Character TTM

Beta1.282

Beta Downside1.594

Hurst Exponent0.460

Drawdowns 3y

Max DD64.03%

CAGR/Max DD-0.14

CAGR/Mean DD-0.23

EPS (Earnings per Share)

Last SUE: 1.05
Qual. Beats: 1

Revenue

Rev. CAGR: 15.99%
Rev. Trend: 99.4%

Last SUE: 1.99
Qual. Beats: 9

Warnings

Negative Equity With Losses

High Debt/EBITDA With Thin Interest Coverage

Interest Coverage Ratio Critical

Altman Z'' In Financial Distress Zone

Below Avwap Earnings

Tailwinds

Idiosyncratic Leader

Confidence

Seasonality 9.2 years of data

Jan +9.7% 28

Feb -0.2% 0

Mar -6.9% 13

Apr -7.5% 36

May +11.2% 10

Jun +5.3% 26

Jul +4.5% 23

Aug +3.3% 0

Sep -4.0% 30

Oct -0.7% 11

Nov -1.3% 2

Dec -9.6% 19

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: APPN Appian

Appian Corporation (NASDAQ: APPN) is a McLean, Virginia-based enterprise software company founded in 1999 that provides The Appian Platform, an integrated automation solution used by organizations to design, automate, and optimize business processes. The company generates revenue from cloud subscriptions bundled with maintenance, support, and hosting, license subscriptions with associated support, and professional services. Its platform combines low-code application development-where software is built largely through graphical interfaces with minimal hand-coding-alongside artificial intelligence, data fabric, process automation, intelligent document processing, process mining, process intelligence, and case management capabilities.

Appian serves customers across financial services, government, life sciences, insurance, manufacturing, energy, healthcare, telecommunications, and transportation, offering vertical solutions such as federal acquisition, public sector case management, state and local e-procurement, contract lifecycle management, insurance connected underwriting, and insurance claims processing. The company operates in the United States and numerous international markets across the Americas, Europe, and Asia-Pacific, and collaborates with Deloitte on AI-powered policing solutions. Listed in 2017, Appian is a small-cap stock classified within the GICS Information Technology sector under Systems Software.

Headlines to Watch Out For

Cloud subscription revenue growth drives recurring revenue mix
Federal government contract wins expand public sector bookings
Competition from ServiceNow and Microsoft pressures market share

Piotroski VR-10 (Strict) 4.5

Net Income: -10.6m TTM > 0 and > 6% of Revenue
FCF/TA: 0.13 > 0.02 and ΔFCF/TA 5.32 > 1.0
NWC/Revenue: -0.23% < 20% (prev 9.78%; Δ -10.01% < -1%)
CFO/TA 0.14 > 3% & CFO 80.8m > Net Income -10.6m
Net Debt (186.8m) to EBITDA (24.6m): 7.59 < 3
Current Ratio: 1.00 > 1.5 & < 3
Outstanding Shares: last quarter (72.9m) vs 12m ago -1.76% < -2%
Gross Margin: 73.08% > 18% (prev 76.34%; Δ -3.27% > 0.5%)
Asset Turnover: 135.2% > 50% (prev 111.4%; Δ 23.85% > 0%)
Interest Coverage Ratio: 0.70 > 6 (EBIT TTM 12.8m / Interest Expense TTM 18.2m)

Altman Z'' -3.51

A: -0.00 (Total Current Assets 410.0m - Total Current Liabilities 411.8m) / Total Assets 585.7m
B: -1.07 (Retained Earnings -624.3m / Total Assets 585.7m)
C: 0.02 (EBIT TTM 12.8m / Avg Total Assets 588.2m)
D: -0.15 (Book Value of Equity -105.2m / Total Liabilities 690.9m)
Altman-Z'' = -3.51 = D

Beneish M -2.89

DSRI: 0.94 (Receivables 171.2m/151.2m, Revenue 795.3m/657.8m)
GMI: 1.04 (GM 76.34% / 73.08%)
AQI: 1.02 (AQ_t 0.20 / AQ_t-1 0.19)
SGI: 1.21 (Revenue 795.3m / 657.8m)
TATA: -0.16 (NI -10.6m - CFO 80.8m) / TA 585.7m)
Beneish M = -2.89 (Cap -4..+1) = A

What is the price of APPN shares?

As of August 18, 2026, the stock is trading at USD 34.91 with a total of 549,816 shares traded. Over the past week, the price has changed by -1.88%, over one month by +33.70%, over three months by +65.45% and over the past year by +16.64%.

Current recommended Stop Loss: 32.10 (which is 8% or 1.3 ATR below the current price).

Is APPN a buy, sell or hold?

Appian has received a consensus analysts rating of 3.13. Therefore, it is recommended to hold APPN.

StrongBuy: 1
Buy: 0
Hold: 6
Sell: 1
StrongSell: 0

What are the forecasts/targets for the APPN price?

Analysts Target Price	32.4	-7.2%

Appian (APPN) - Fundamental Data Overview as of 14 August 2026

Market Cap USD = 2.49b (2.49b USD * 1.0 USD.USD)
P/E Forward = 416.6667
P/S = 3.136
P/B = 42.8248
Revenue TTM = 795.3m USD
EBIT TTM = 12.8m USD
EBITDA TTM = 24.6m USD
Long Term Debt = 226.4m USD (from longTermDebt, last quarter)
Short Term Debt = 23.8m USD (from shortTermDebt, last quarter)
Debt = 354.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 59.3m
Net Debt = 186.8m USD (calculated: Debt 354.6m - CCE 167.9m)
Enterprise Value = 2.68b USD (2.49b + Debt 354.6m - CCE 167.9m)
Interest Coverage Ratio = 0.70 (Ebit TTM 12.8m / Interest Expense TTM 18.2m)
EV/FCF = 34.93x (Enterprise Value 2.68b / FCF TTM 76.7m)
FCF Yield = 2.86% (FCF TTM 76.7m / Enterprise Value 2.68b)
FCF Margin = 9.65% (FCF TTM 76.7m / Revenue TTM 795.3m)
Net Margin = -1.34% (Net Income TTM -10.6m / Revenue TTM 795.3m)
Gross Margin = 73.08% ((Revenue TTM 795.3m - Cost of Revenue TTM 214.1m) / Revenue TTM)
Gross Margin QoQ = 71.21% (prev 73.09%)
Tobins Q-Ratio = 4.58 (Enterprise Value 2.68b / Total Assets 585.7m)
Interest Expense / Debt = 5.12% (Interest Expense 18.2m / Debt 354.6m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 10.1m (EBIT 12.8m * (1 - 21.00%))
Current Ratio = 1.00 (Total Current Assets 410.0m / Total Current Liabilities 411.8m)
Debt / Equity = -3.37 (negative equity) (Debt 354.6m / totalStockholderEquity, last quarter -105.2m)
Debt / EBITDA = 7.59 (Net Debt 186.8m / EBITDA 24.6m)
Debt / FCF = 2.43 (Net Debt 186.8m / FCF TTM 76.7m)
Total Stockholder Equity = -64.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.81% (Net Income -10.6m / Total Assets 585.7m)
RoE = 16.36% (negative equity) (Net Income TTM -10.6m / Total Stockholder Equity -64.9m)
RoCE = 7.93% (EBIT 12.8m / Capital Employed (Equity -64.9m + L.T.Debt 226.4m))
RoIC = 6.41% (NOPAT 10.1m / Invested Capital 157.9m)
WACC = 9.69% (E(2.49b)/V(2.85b) * Re(10.49%) + D(354.6m)/V(2.85b) * Rd(5.12%) * (1-Tc(0.21)))
Discount Rate = 10.49% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 38.63 | Cagr: -0.25%
[DCF] Terminal Value 73.76% ; FCFF base≈64.4m ; Y1≈73.9m ; Y5≈108.7m
[DCF] Fair Price = 28.05 (EV 1.32b - Net Debt 186.8m = Equity 1.14b / Shares 40.5m; r=9.69% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.05 | # QB: 1
Revenue Correlation: 99.42 | Revenue CAGR: 15.99% | SUE: 1.99 | # QB: 9
EPS current Quarter (2026-09-30): EPS=0.33 | Chg30d=+1.13% | Revisions=+70% | Analysts=7
EPS current Year (2026-12-31): EPS=1.08 | Chg30d=+10.19% | Revisions=+67% | GrowthEPS=+77.3% | GrowthRev=+16.9%
EPS next Year (2027-12-31): EPS=1.42 | Chg30d=+12.89% | Revisions=+70% | GrowthEPS=+31.1% | GrowthRev=+10.8%
[Analyst] Revisions Ratio: +87% (up=20, down=0)