Appen’s technology is used by various governments and technology companies. It’s fastly climbing from its lows ahead of the earnings release on Thursday.
Is Appen the future of the AI (artificial intelligence) industry? Its share price has been in a rally ahead of this week’s earnings release. The distant future of using AI technology is no longer a probability – it’s already here.
If you want to find out if the buzz surrounding Appen is worth the hype, check out the next sections. First, let’s start with where you can buy Appen stock right now, then we will dive deeper into the company’s performance and why it’s currently soaring.
How & Where to Buy Appen Stock Online
Buying Appen’s stock online is quite straightforward. You need to choose an online broker and open an online trading account by providing your personal information and a form of identification to comply with the KYC (Know Your Customer) policy. You can check out these two brokers below:
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What Is Appen?
Appen (ASX: APX) is an Australian AI company operating worldwide. It uses or provides data for machine learning and artificial intelligence products. Its language technology is used by many governments and tech companies in over 150 languages. The company’s main segments are speech collection and content relevance.
Should I Buy Appen Today?
Appen’s share price started this week on a positive note ahead of the earnings report to be released this Thursday. Also, over the past week, Appen has been gaining momentum, going up from a low of AUD 11.32.
If Thursday’s earnings release shows that the revenues, EBITDA or the NPAT (net profit after tax) beat the expectations, investors will be ready to book their profits. Market participants’ expectations often result in share price surges ahead of company announcements if the results are expected to be positive.
Is Appen a hot stock right now? Perhaps. However, in May, the company decreased their EBITDA forecast from $120-130m to about $83-90m, while the stock price had a loss of about 48% this year, followed by last year’s loss of 68%. Has Appen reached rock bottom? It may have, but keep in mind that bottom fishing comes with its risks, especially if the company fails to satisfy its investors this week.
Appen Price Prediction 2021
Appen has an optimistic price prediction of around AUD 13.25 and a low prediction of approximately AUD 11.91.