Previous Close | 48.82 |
Open | 48.44 |
Bid | 0.00 x 1200 |
Ask | 0.00 x 900 |
Day's Range | 48.20 - 51.44 |
52 Week Range | 42.18 - 149.82 |
Volume | |
Avg. Volume | 627,714 |
Market Cap | 3.582B |
Beta (5Y Monthly) | 1.75 |
PE Ratio (TTM) | N/A |
EPS (TTM) | -1.38 |
Earnings Date | Aug 03, 2022 - Aug 08, 2022 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | 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.