U.S. Markets closed
  • S&P 500

    -27.29 (-0.72%)
  • Dow 30

    -177.24 (-0.57%)
  • Nasdaq

    -114.10 (-0.87%)
  • Russell 2000

    -32.15 (-1.49%)
  • Crude Oil

    -1.53 (-2.86%)
  • Gold

    -23.70 (-1.28%)
  • Silver

    -0.97 (-3.77%)

    -0.0079 (-0.6526%)
  • 10-Yr Bond

    -0.0320 (-2.83%)
  • Vix

    +1.09 (+4.69%)

    -0.0057 (-0.4143%)

    -0.0420 (-0.0404%)

    -136.86 (-0.39%)
  • CMC Crypto 200

    -33.21 (-4.52%)
  • FTSE 100

    -66.25 (-0.97%)
  • Nikkei 225

    -179.12 (-0.62%)

Appian Partners With Celonis to Drive Digital Transformation

Zacks Equity Research

Appian APPN recently announced a technology partnership and integration initiative with Celonis, a provider of AI-enhanced process mining and process excellence software.

The partnership will allow Appian to integrate its low code automation platform with Celonis’ powerful process mining technology, Intelligent Business Cloud (IBC), and accelerate digital business process transformation and joint customers.

The initial integration between the two companies will enable Celonis IBC users to seamlessly connect to Appian for process mining across the Appian environment.

Appian Corporation Price and Consensus

Appian Corporation Price and Consensus
Appian Corporation Price and Consensus

Appian Corporation price-consensus-chart | Appian Corporation Quote

Partnerships & Acquisitions Aid Prospects

This partnership is in line with Appian’s focus on driving innovation and continuous improvement on its platform.

Notably, the company acquired Novayre Solutions SL, a developer of the Jidoka robotic process automation (RPA) platform on Jan 7, 2020. The acquisition makes Appian a one-stop shop for Automation, with best-in-class solutions for workflow, AI and RPA.

Moreover, in May 2019, the company partnered with Twilio to integrate its communication platform into the Appian Intelligent Contact Center (ICC) solution, which allows clients to better engage with their customers across any channel.

Appian also partnered with UiPath, a leading enterprise RPA software company, to drive fast and high impact digital automation for enterprises. The alliance enables joint customers to integrate their RPA and business process management initiatives.

These endeavors have helped the company to differentiate itself, allowing it to sell to new organizations and expand within its existing customers. Appian has also been able to expand its footprint in international markets.

In October 2019, Naturgy, a leading multinational energy provider in Spain, chose Appian’s low code platform to digitize innovation management operations and accelerate the company’s transformation process.

Moreover, Anglian Water, the largest water and water recycling company in England and Wales, selected Appian to accelerate the development of new digital business applications in September 2019.

These client wins have aided the company’s top-line growth. Notably, Appian generated revenues of $69.4 million in third-quarter 2019, up 26% from the year-ago quarter.

Notably, the Zacks Consensus Estimate for fourth-quarter 2019 revenues is pegged at $69.7 million, indicating growth of 15.7% from the figure reported in the year-ago quarter.

Additionally, the consensus mark for the bottom line is pegged at a loss of 14 cents per share, unchanged over the last 30 days.

Zacks Rank & Stocks to Consider

Currently, Appian carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector include Cyberoptics Corporation CYBE, Fortinet, Inc FTNT and Applied Materials, Inc. AMAT. All three stocks sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The long-term earnings growth rate for Cyberoptics, Fortinet and Applied Materials is currently pegged at 12%, 14% and 8.2%, respectively.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.

This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.

See their latest picks free >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Fortinet, Inc. (FTNT) : Free Stock Analysis Report
CyberOptics Corporation (CYBE) : Free Stock Analysis Report
Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
Appian Corporation (APPN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research