Why Appian Stock Was Moving Higher Today
Shares of Appian (NASDAQ: APPN) were climbing on Friday morning after the software company reported a solid fourth-quarter earnings report last night and reassured investors that it was on a path to profitability. Appian, which provides a low-code software platform to help automate workflows, reported revenue growth of 20% to $125.8 million, ahead of analyst estimates at $123 million. Cloud subscription revenue, the company's primary focus, rose 29% to $65.8 million, ahead of the company's guidance at 24% to 26% growth.