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Appian: The Investment Thesis Is Still Intact

February 25, 2019

Summary:

- Appian reported Q4 2018 results that beat the top- and bottom-line estimates, but the stock finished down by over 8% after the company released its "mixed" 2019 guidance.

- Appian is expected to report significant growth in fiscal 2019, with the subscription business predicted to see ~30% YoY top-line growth.

- This company should continue to benefit from a promising backdrop. As such, I plan to stay long the stock.

 

Appian ($APPN) reported better-than-expected Q4 2018 operating results but the stock finished the trading day down by over 8% after management released its "mixed" 2019 guidance. APPN shares are, however, still outperforming the broader market by 13 percentage points over the last year.

 

In my opinion, the market is overreacting to what is being viewed as good results but weak guidance. As such, I believe that Appian shareholders should consider staying the course because the investment thesis for this low-code company is still intact.

 

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