Did Appian Just Prove It's an AI Winner?
Enterprise software stocks have slumped this year due to fears of AI disruption. AI-native applications from start-ups like Anthropic are now a threat to entrenched cloud software, and could displace them entirely, the thinking goes.
As a result, the iShares Expanded Tech-Software ETF, which tracks major software stocks, is down 7.4% for the year, compared to a 12.7% gain for the S 500.
One of the software stocks that has gotten hit by that sell-off is Appian (NASDAQ: APPN), a maker of workflow automation software, which is down 16.9% for the year. Appian's decline comes as the company is delivering strong results even with the uncertainty from AI.
Source Fool.com
Appian Stock
€30.50
-0.850%
With 4 Buy predictions and 3 Sell predictions the community is currently undecided on Appian.
However, we have a potential of -21.31% for Appian as the target price of 24 € is below the current price of 30.5 €.
