Appian price target raised to $35 from $32 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Appian (APPN) to $35 from $32 and keeps an Equal Weight rating on the shares. The firm notes all metrics topped estimates in Q4, with FY25 revenue guide bracketing consensus. However, underlying growth trends, especially in cloud, are slowing which is being offset but a notable improvement in profitability. With AI positioning and Fed exposure as the key debates, Morgan Stanley waits for better growth.