Appian price target raised to $34 from $29 at Barclays

Barclays raised the firm’s price target on Appian (APPN) to $34 from $29 and keeps an Underweight rating on the shares. The company reported solid Q3 results, highlighted by reaccelerating cloud growth and further progress on its goal of being a profitable company, the analyst tells investors in a research note. However, Appian’s profitability is just starting to turn positive, which paired with an implied low-teens Q4 exit rate “does not seem to offer much upside from here,” contends the firm.