Appian (APPN) Soars 6.9%: Is Further Upside Left in the Stock?
Appian APPN shares soared 6.9% in the last trading session to close at $37.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.9% gain over the past four weeks.
Appian is benefiting from a robust portfolio with the launch of the latest version of the Appian Platform for AI process automation. The solution aims to improve end-to-end automation and data-driven decisions using self-service analytics and generative Private AI.
This business process management software provider is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of +20.5%. Revenues are expected to be $142.07 million, up 11.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Appian, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on APPN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Appian belongs to the Zacks Internet - Software industry. Another stock from the same industry, CrowdStrike Holdings CRWD, closed the last trading session 1.6% lower at $254.15. Over the past month, CRWD has returned -32.1%.
CrowdStrike's consensus EPS estimate for the upcoming report has changed +1.8% over the past month to $0.99. Compared to the company's year-ago EPS, this represents a change of +33.8%. CrowdStrike currently boasts a Zacks Rank of #5 (Strong Sell).
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