Appian Joins Accenture’s INTIENT Network; Street Says Hold
Appian shares closed up 4.4% on Friday after the company announced that it has joined Accenture’s INTIENT partner ecosystem. The collaboration is expected to improve the ecosystem’s digital innovation and optimize its business outcomes, ultimately benefitting customers and patients.
Appian’s (APPN) platform provides a single interface that uses artificial intelligence to automate routine tasks and enables collaboration between data, processes, people and the digital workforce, allowing companies to build applications up to 20-times faster.
The INTIENT Network offers industry-standard APIs that can easily plug into existing systems, allowing the swift deployment of solutions and streamlining the acquisition of patient data, enhancing rapid and critical decision making.
Jill Schulte, managing director in Accenture’s Life Sciences practice, said, “Appian’s integration into the INTIENT Platform enables low-code workflow creation and management to accelerate the building of applications for our clients and ultimately for the benefit of their customers and patients.” (See APPN stock analysis on TipRanks)
Barclays analyst Raimo Lenschow downgraded his rating on APPN last month from Hold to Sell and set a price target of $76 (50% downside potential).
Commenting on the November rally, Lenschow said that he believes the surge was unwarranted and that the company’s fundamentals and growth potential did not justify the share price. Despite Lenschow’s downgrade and his expectation that APPN shares would “de-rate,” APPN shares have continued to move higher.
Consensus among analysts on the Street is a Hold based on 1 Buy, 3 Holds and 2 Sells. The average price target of $76.67 suggests downside potential of around 50% over the next 12 months.
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