APPN - Appian: Great Moment To Buy (Rating Upgrade)
2024-02-18 05:21:48 ET
Summary
- Appian, a BPM software company, is a top choice for growth at a reasonable price stocks with a downside cushion.
- Despite a 20% decrease in shares, Appian has seen recent accelerating trends and strong Q4 results.
- Reasons to be bullish on Appian include strong net retention rates, AI tailwinds, public sector deals under its belt, and scaling gross margins.
- The stock trades at a reasonable 4.5x forward revenue.
Amid a record-breaking S&P 500, I continue to be on the lookout for excellent "growth at a reasonable price" stocks that have downside cushion in case the market goes south again. Catalyst-driven tech stocks that are trading at cheap multiples and yet have been on strong recent fundamental trajectories are the best play here, and Appian ( APPN ) is among the top choices here....
Appian: Great Moment To Buy (Rating Upgrade)