Appian Stock Sinks After Q2 Performance - Here's Why
Portfolio Pulse from Anusuya Lahiri
Appian Corp (NASDAQ:APPN) reported Q2 2024 revenue growth of 15% year-on-year to $146.45 million, beating analyst estimates. Despite this, the stock price fell due to lower-than-expected future revenue projections and a downgrade from DA Davidson. The company expects to achieve adjusted EBITDA breakeven for the full year 2024.
August 01, 2024 | 3:04 pm
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Appian Corp reported strong Q2 2024 results, beating revenue and EPS estimates. However, the stock price fell due to lower-than-expected future revenue projections and a downgrade from DA Davidson.
Despite beating Q2 revenue and EPS estimates, Appian's stock fell due to lower-than-expected future revenue projections and a downgrade from DA Davidson. This indicates investor concerns about the company's future performance.
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