What happened Shares of Appian (NASDAQ: APPN) slipped roughly 8.1% in today's trading, according to data from S&P Global Market Intelligence. There wasn't any major business-specific news behind the move, but the low-code software specialist's stock got hit hard amid a pullback for growth-oriented tech stocks. APPN data by YCharts Technology stocks sold off in the lead-up to earnings releases from major industry players including Microsoft, Alphabet, and Apple. The tech-heavy Nasdaq Composite index closed the day down roughly 1.2%, and Appian was a casualty of market momentum. Image source: Getty Images. So what Appian stock has pulled back after posting huge gains in 2020. The company's share price skyrocketed roughly 295% last year thanks to surging demand for its low-code software solutions and a favorable market backdrop for growth-focused tech stocks, but it's seen volatile trading in 2021. The software specialist has a highly growth-dependent valuation, and its business outlook remains somewhat speculative, so it's not surprising to see the stock post outsize moves in conjunction with momentum for the broader market. Now what Appian now has a market capitalization of roughly $8.1 billion and trades at approximately 23 times this year's expected sales. I own the stock in my portfolio and continue to like the company's prospects. Appian's services make it easy for enterprise customers to build and quickly deploy new software applications. Its low-code development platform could continue to enjoy demand tailwinds as businesses carry out digital transformations and become increasingly reliant on technology. However, the stock remains a risky play by most conventional standards, and it's probably not a great fit for investors who are unwilling to embrace the potential for more volatility in the near term. 10 stocks we like better than AppianWhen our award-winning analyst team has 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.* They 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 June 7, 2021 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Keith Noonan owns shares of Appian. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Appian, Apple, and Microsoft. The Motley Fool recommends Nasdaq and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy.Source