Fly News Breaks for February 19, 2020
Feb 19, 2020 | 06:23 EDT
Needham analyst Jack Andrews downgraded Appian to Hold from Buy after its Q4 results, also noting that its 64% run-up in the stock price year-to-date has "front loaded" the price appreciation expected in 2020. The analyst is still positive on the technology adoption of low-code platforms in the industry and the company's improving operational leverage, but he no longer sees sufficient upside to continue to recommend the stock. Andrews adds that he would turn more constructive again on Appian in the event of a pullback.
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