<div id="readability-page-1">Money Markets How Risky Is Appian Stock As Cloud Growth Moderates?  ByTrefis Team ,  Contributor.  Forbes contributors publish independent expert analyses and insights. Building a platform to do the job of 1 million analysts for  Great Speculations Follow Author Dec 12, 2025, 09:31am EST  POLAND - 2025/08/09: In this photo illustration, an Appian company logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Appian (APPN) stock has declined 13.9% over the last 21 trading days. This recent pullback highlights renewed concerns about Appian’s slowing cloud revenue expansion and persistent profitability challenges. Still, sharp corrections like this often prompt a critical question: is the weakness merely temporary, or does it hint at deeper structural issues?  Before evaluating its downturn resilience, let’s first understand Appian’s current position.  Size: Appian is a $2.8 Bil company generating $691 Mil in revenue and trades at $38.07.  Fundamentals: The company posted last 12-month revenue growth of 16.0% and an operating margin of 0.9%.  Liquidity: It maintains a Debt to Equity ratio of 0.14 and a Cash to Assets ratio of 0.31.  Valuation: Appian stock currently trades at a P/E multiple of -309.5 and a P/EBIT multiple of 123.3.  The stock has delivered a (median) -29.2% return within a year following prior sharp declines since 2010. See APPN Dip Buy Analysis.  These indicators signal a Moderate operational performance combined with a High valuation, rendering the stock Unattractive. For more details, visit Buy or Sell APPN Stock.  This leads to the key question for investors unsettled by the recent drop: how resilient is APPN during broader market downturns? Using our downturn resilience framework, consider a scenario where APPN stock falls another 20-30% to $27 — would investors still feel comfortable holding it? Historically, the stock has underperformed the S&amp;P 500 during major economic shocks, both in terms of depth of decline and speed of recovery. Below, we break down each significant downturn.  2022 Inflation Shock  APPN stock fell 86.8% from a high of $235.24 on 27 January 2021 to $31.12 on 10 January 2023, compared to a 25.4% peak-to-trough drop for the S&amp;P 500.  The stock has still not returned to its pre-Crisis high.  Its highest level since then was $53.90 on 13 June 2023, and it now trades at $38.07.  APPN Trefis 2020 Covid Pandemic  APPN stock dropped 50.5% from a high of $63.30 on 18 February 2020 to $31.36 on 3 April 2020, versus a decline of 33.9% for the S&amp;P 500.  The stock recovered to its pre-Crisis high by 29 September 2020.  APPN Trefis MORE FOR YOU 2018 Correction  APPN stock fell 46.6% from a high of $43.06 on 18 June 2018 to $22.99 on 24 October 2018, compared to a 19.8% decline for the S&amp;P 500.  The stock recovered to its pre-Crisis peak by 8 August 2019.  APPN Trefis Feeling uneasy about APPN stock? A diversified portfolio may help.  The Right Way To Invest Is Through Portfolios  Stock prices can surge or plunge, but long-term success typically comes from staying invested. A well-constructed portfolio helps capture upside while softening the blow from individual stock volatility.  The Trefis High Quality (HQ) Portfolio, consisting of 30 stocks, has consistently outperformed its benchmarks — the S&amp;P 500, S&amp;P mid-cap, and Russell 2000 indices. Why? Collectively, HQ Portfolio stocks have produced stronger returns with lower risk than the broader market, offering a smoother overall ride, as shown in HQ Portfolio performance metrics.  Editorial Standards Reprints &amp; Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video</div>

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<p>Appian's stock has dropped 13.9% over 21 days, raising concerns about slowing cloud revenue and profitability. Despite moderate operational performance, its high valuation makes the stock unattractive. Historically, Appian underperforms the S&P 500 during economic shocks. Investors are advised to consider diversified portfolios for better long-term returns.</p>