Why Appian, Chuy's Holdings, and Cutera Jumped Today
The stock market finished up a volatile week on a down note, as major benchmarks posted modest losses. Trade rhetoric from Washington kept investors on their toes, taking away any certainty about whether a trade deal between China and the U.S. is likely in the near future. Even with pressure on the overall market, some stocks were able to buck the downtrend and post solid gains. Appian (NASDAQ: APPN), Chuy's Holdings (NASDAQ: CHUY), and Cutera (NASDAQ: CUTR) were among the top performers. Here's why they did so well.
Shares of Appian rose 19% after the provider of low-code software design platforms announced strong revenue growth in its second-quarter financial report. Sales climbed 12% on a 41% jump in recurring subscription-based revenue, and Appian's losses narrowed from year-earlier levels. Moreover, the company boosted its full-year sales projections as well, as it anticipates further traction in bringing new subscribers onboard. With customers seeking to develop software solutions without paying consultants or bringing on high-cost tech teams, Appian's value proposition should stay clear for years to come.
Image source: Appian.
Source Fool.com
