137.00 -0.04 (-0.03%)
After hours: 6:37PM EST
|Bid||137.00 x 1100|
|Ask||137.50 x 1800|
|Day's range||126.60 - 138.65|
|52-week range||29.07 - 138.65|
|Beta (5Y monthly)||0.98|
|PE ratio (TTM)||N/A|
|Earnings date||18 Feb 2021 - 22 Feb 2021|
|Forward dividend & yield||N/A (N/A)|
|1y target est||79.86|
Third-quarter 2020 cloud subscription revenue increased 40% to $34.3 million, handily beating management’s expectations for as much as $31.9 million. Flush with cash, Appian is a company enabling rapid change as the world adapts to new realities brought about by COVID-19. Shares of low-code software and software robotics platform Appian (NASDAQ: APPN) were up double-digit percentages the day after reporting third-quarter 2020 results last week.
"Digital transformation" has been one of the biggest buzzwords of 2020 in the business world. Cloud subscription revenue, Appian's most important business metric, rose 40% year over year to $34.3 million in the quarter, well ahead of the company's own guidance at $31.4 million to $31.9 million. Cloud subscription revenue retention was 115%, showing that existing customers are expanding deployments with the company, and Appian's 73% gross margin was a record and shows the company on a path toward profitability as its sales mix shifts from professional services to cloud-based subscriptions.
Appian Corporation (NASDAQ:APPN) just released its latest quarterly results and things are looking bullish. Revenues...