Shares of Appian (NASDAQ: APPN) got chopped in half last year as compressing valuations in the software sector dinged the low-code software specialist even as it continued to post solid growth.

According to data from S&P Global Market Intelligence, the stock finished 2022 down 50%.

As you can see from the chart below, Appian shares declined steadily over the course of the year, mirroring a broader decline in the software-as-a-service (SaaS) sector.

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Source Fool.com