|Bid||0.00 x 1200|
|Ask||0.00 x 900|
|Day's Range||48.20 - 51.44|
|52 Week Range||42.18 - 149.82|
|Beta (5Y Monthly)||1.75|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 03, 2022 - Aug 08, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||57.33|
A jury in the Circuit Court for Fairfax County, Virginia, found that Pegasystems (NASDAQ: PEGA), Appian's chief competitor, had stolen trade secrets from Appian during a period of time starting in 2012. Appian shares jumped 39% last Tuesday after the news came out, while Pegasystems' stock plunged 21%. Pending appeals, Appian stands to win $2.036 billion based on Pegasystems' enrichment from its intellectual property, a large sum for Appian, which currently has a market cap of less than $4 billion and $160 million in cash.
In the four years I've been following it, Appian's stock price has doubled, running up 105%. While I was reviewing Appian's recent earnings report for one of the Fool's video services, I had the opportunity to dig a little deeper into the Appian story. Appian offers a cloud platform where software is simplified.
Appian (APPN) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.