UPDATE: Morgan Stanley Upgrades Appian Corp. (APPN) to Equalweight

Morgan Stanley analyst Sanjit Singh upgraded Appian Corp. (NASDAQ: APPN) from Underweight to Equalweight with a price target of $87.00 (from $95.00).

The analyst comments "Another year of 30% sub rev growth coupled with progress expanding the product portfolio through M&A are balanced by a competitive backdrop which remains dynamic. With valuation looking more fair versus modern infrastructure and app platform play peers, we upgrade to EW but lower PT to $87."

For an analyst ratings summary and ratings history on Appian Corp. click here. For more ratings news on Appian Corp. click here.

Shares of Appian Corp. closed at $68.89 yesterday.

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