Appian price target lowered to $33 from $40 at Macquarie

Macquarie lowered the firm’s price target on Appian to $33 from $40 and keeps a Neutral rating on the shares after the company reported Q1 results and maintained its top-line guidance, raised its adjusted EBITDA guidance below its Q1 beat, and reduced adjusted EPS guidance for FY24. The sees “little to do with” the shares while awaiting growth re-acceleration and profitability, the analyst tells investors.