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Buy: Appian (NASDAQ: APPN) | |
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| When you think of a cloud-based platform, the first thing that comes to mind likely isn't a company that was founded way back in 1999. And yet, Appian, a low-code software tool did just that, a visionary way ahead of their time. Unlike many of its Silicon Valley counterparts, it grew as a bootstrap, funded by customers rather than venture capitalists, leaving it with little debt. Today, one of the Co-founders, Matt Calkins, sits as CEO. If you're not familiar with "Low-code," it allows companies to easily deploy apps with little to no code. In the past, you'd have to create an application by coding it, a long tedious process that required specialized minds. Appian saves companies from having to hire IT pros to do this. And this functionality gives the company a lot of confidence moving forward, even in an unsure economy. In fact, CEO Calkins made it clear he is bearish on the US economy as a whole, but stated, "Appian is not seeing any evidence of a downturn" in its business, and the company plans to keep expanding while its competitors pull back. This confidence is compounded by Gartner's estimates that two-thirds of apps developed in 2024 will be low-code, and Appian's second quarter 2022 results showed cloud subscription revenue rose 34% from the previous year's levels, fueled by a healthy 116% revenue retention rate. Plus, a $2 Billion settlement against Pegasystems recently gave Appian a huge win that could mean a big influx of cash in the future. | Did you enjoy this series? If so, I highly recommend you take advantage of our exclusive new member offer today to access Stock Advisor for less than a dollar a week on a two-year term. You'll get more great write ups like this each and every month, multiple times per month. And if it's not for you, don't sweat it. Our 30-day membership-fee back guarantee gives you the freedom to try it out, without the risk. But by not signing up you DO risk missing out on more amazing stock alerts like these that could make some investors very, very wealthy. | |
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