Appian price target lowered to $32 from $36 at Barclays

Barclays lowered the firm’s price target on Appian to $32 from $36 and keeps an Underweight rating on the shares post the Q1 report. Billings growth of 1% year-over-year likely drove the weakness in the shares, the analyst tells investors in a research note. The firm says that while management pointed to currency as a negative contributing factor, with no cash flow or profit for protection, it is “not sure investors will chase these lower levels.”