Cloud computing and enterprise software program firm Appian Company (APPN) has introduced the acquisition of Lana Labs, a course of mining software program firm. The phrases of the deal haven’t been disclosed to this point.
Following the information, shares of the corporate remained unchanged and closed at $119 within the prolonged buying and selling session.
The buyout will mix Appian’s prowess in low-code course of modeling and automation with Lana’s experience in machine studying algorithms to supply prospects an entire low-code automation suite.
The CEO of Appian, Matt Calkins, stated, “There’s pure synergy between course of mining, course of modeling, and automation. We consider that our acquisition of Lana Labs implies that solely Appian will be capable of take prospects from figuring out to doing, in a unified suite.” (See Appian stock chart on TipRanks)
Two days in the past, Needham analyst Jack Andrews reiterated a Purchase ranking on the inventory with a value goal of $186, implying 79.9% upside potential from present ranges.
The Wall Avenue group is cautiously optimistic concerning the inventory with a Average Purchase consensus primarily based on 2 Buys and three Holds. The average Appian price target of $119 implies that the inventory has upside potential of 15.1% from present ranges. Shares have gained 106% over the previous 12 months.