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Fly News Breaks for May 23, 2019
APPN
May 23, 2019 | 07:57 EDT
As previously reported, Morgan Stanley analyst Sanjit Singh upgraded Appian to Equal Weight from Underweight, stating that recent results suggest the company is seeing returns from its sales investments. Additionally, Appian's services mix falling to about 40% in Q1 from 48% in FY17 bodes well for long-term margins, the analyst said. Valuation, with shares now trading at 12 times subscription revenue, has also improved, noted Singh, who raised his price target on Appian shares to $36 from $30.
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