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Fly News Breaks for August 9, 2019
APPN
Aug 9, 2019 | 08:35 EDT
SunTrust analyst Terry Tillman raised his price target on Appian to $46 after its "solid" Q2 results, with total and subscription revenues, profit margins, and cash flows coming above expectations. The analyst is positive on the company's increased focus around "partner selling and implementations" along with its growing mix of subscription revenue and innovation, but keeps his Hold rating, saying the stock's 10-times forward revenue multiple already reflects strong subscription revenue growth.
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