APPIAN: EFFICIENCY IS A CONCERN
Summary
- Appian's operating profitability has deteriorated over time, despite modest growth, calling into the company's competitive position.
- LLMs are likely to cause a proliferation of low-code/no-code and developer productivity tools, increasing competition.
- Appian's valuation is not justified by the company's growth, efficiency, end market or competitive positioning.
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2023-06-07T15:52:48Z dg43tfdfdgfd