A small-cap AI stock that is taking on the likes of Microsoft Corp.’s (NASDAQ:MSFT) Power Apps, with its low/no-code, AI-powered business process management solution, is beginning to heat up, with its Momentum scores surging in Benzinga’s Edge Stock Rankings.
The stock in question is Appian Corp. (NASDAQ:APPN), which allows businesses to build apps to power and optimize internal processes.
Microsoft Challenger Sees Momentum Scores Surge
The Momentum score in Benzinga’s Edge Rankings assesses the relative strength of a stock, based on price movements and volatility, taking into consideration multiple timeframes, before being ranked as a percentile against all other stocks in the market.
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Appian has witnessed a big spike in its Momentum score within a short span of time, indicating significant strength. Here’s what we think led to this surge.
Appian Corp.
Appian’s Momentum score in Benzinga’s Edge Stock Rankings has surged from 15.52 to 75.33 within the span of a week, primarily driven by the stock’s 47.52% rally over the past two weeks, following its third-quarter results earlier this month, when it beat consensus estimates on the top and bottom lines.
The company turned profitable earlier this year, driven by rising prices and an expanding product pipeline, which has led the stock to post year-to-date gains of 30.37%.
As a result, the stock is showing remarkable strength in recent weeks, which is now visible in its Momentum score. It, however, continues to score poorly on Growth and Value in Benzinga’s Edge Stock Rankings, but has a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.
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