What happened Shares of Appian Corporation (NASDAQ: APPN) fell today after investment research company CFRA initiated coverage of the company with a hold rating. The tech stock fell by as much as 9.5% today and was down 5.6% at the end of the trading day. So what CFRA Research said in an investor note today that the hold rating for the company's stock comes as the firm sees "better relative value elsewhere" in the low-code application platform (LCAP) market. Image source: Getty Images. CFRA added that "we characterize APPN as a low-code play that remains further out on the risk curve, with a beta of nearly twice the overall market." The firm estimates that Appian will have a loss per share of $0.41 for the full-year 2020 and $0.33 in 2021. Aside from the investor note, Appian's stock could also be sliding today as a coronavirus vaccine begins the early stages of being distributed in the U.S. Appian's stock has soared 278% this year as investors have flocked to so-called stay-at-home stocks, and some investors may be concerned that the availability of a vaccine might stifle the growth of tech stocks. Now what Investors should remember Appian's share price drop today doesn't have anything to do with the company's underlying business, and instead appears to be a reaction to what an investment research firm said about the company, and potentially on vaccine news. All of this means that long-term Appian investors should likely stay the course with their initial investment thesis. 10 stocks we like better than AppianWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Appian wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Appian. The Motley Fool has a disclosure policy.Source