KeyBanc analyst Thomas Blakey raised the firm’s price target on Appian to $50 from $45 and keeps an Overweight rating on the shares. Appian’s Q4 Cloud growth and guidance for 2024 were better than expected, and the company reiterated its goal of positive EBITDA for the end of 2024, the analyst tells investors in a research note. The firm believe sCloud subscription should reach about 60% of revenue by CY24.
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