|Bid||0.00 x 900|
|Ask||186.00 x 900|
|Day's Range||144.33 - 171.99|
|52 Week Range||29.07 - 260.00|
|Beta (5Y Monthly)||1.88|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 05, 2021 - May 10, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||144.25|
Shares of Appian Corporation (NASDAQ: APPN), a provider of cloud-based, low-code software, tumbled today, likely because 10-year Treasury yields are rebounding. While there wasn't any company-specific news that caused Appian's stock to fall today, inventors were likely responding to a bump in Treasury yields. Additionally, technology stocks have been some of the biggest winners over the past year, but rising yields could end up making it more expensive for growth companies like Appian to borrow money.
Shares of Appian (NASDAQ: APPN) fell by 21.3% last month, according to data provided by S&P Global Market Intelligence, after the company reported its fourth-quarter results. Appian reported earnings on Feb. 18 and both the company's top and bottom lines beat analysts' consensus estimates. The company's management pointed out a few highlights from the quarter, including its cloud subscription revenue spiking 40% to $36.9 million and total subscription sales increasing 33% from the year-ago quarter.
To say that the stock market was having a volatile day on Tuesday would be a massive understatement, and that's especially true for some of the best-performing tech stocks. The tech-heavy Nasdaq is by far the worst performer of the three major indexes today, and there are quite a few "momentum stocks" taking quite a plunge. Insurance technology company Lemonade (NYSE: LMND) is one of the worst-hit stocks on Tuesday.