DA Davidson has revised its price target for Appian (APPN, Financial), reducing it from $40 to $28, while maintaining a Neutral rating on the stock. This adjustment is part of a larger update to the firm's estimates on the Software sector.
The firm anticipates one or two quarters of negative GDP growth in the United States this year, a factor contributing to reduced growth expectations and lower stock valuations in the sector. This economic outlook is linked to a predicted slowdown in consumer spending and corporate investment over the coming months.
DA Davidson's analysis suggests that the current economic conditions, including ongoing tariff issues, could continue to dampen market activity, impacting companies like Appian in the near term.
