Citi has revised its price target for Appian (APPN, Financial), reducing it from $53 to $40, while maintaining a Buy rating on the company's shares. This adjustment comes ahead of Appian's first-quarter earnings as Citi anticipates a challenging period for enterprise automation software firms.
The market for such software faces potential headwinds, with macroeconomic uncertainties likely affecting the timing and completion of deals. Additionally, there are concerns over disruptions from the federal Department of Government Efficiency that could impact business operations.
The decision to lower the price target also considers the broader re-evaluation of software sector valuations. As the environment for enterprise automation software remains complex, investors will be closely watching Appian's upcoming earnings report for further insights.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Appian Corp (APPN, Financial) is $38.00 with a high estimate of $53.00 and a low estimate of $27.00. The average target implies an upside of 47.12% from the current price of $25.83. More detailed estimate data can be found on the Appian Corp (APPN) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Appian Corp's (APPN, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Appian Corp (APPN, Financial) in one year is $56.08, suggesting a upside of 117.11% from the current price of $25.83. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Appian Corp (APPN) Summary page.
