Appian has posted the 5th highest YTD returns of all cloud stocks this year yet they often get overlooked. Founded in the 90's, growing top line <20%, gross margins <70%, FCF Margin <0%, yet its posted higher YTD returns than Docusign, Shopify, Twilio and Crowdstrike
$APPN
Many buzzy startups are going after the "low-code" space. Appian has been doing it for decades, and have seen a big boost through Covid. While overall top line isn't growing quickly, their cloud subscription revenue is growing 40% YoY and represents ~40% of overall revenue
The only businesses who've posted better YTD returns are Zoom, Fastly, Cloudflare and Zscaler

They also hit an all time high today. While most cloud stocks have pulled back 10-20% over the last couple weeks, they haven't
It's not always the buzziest companies that post the highest returns!
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