DA Davidson Reiterates Neutral Rating for Appian (NASDAQ:APPN)

Appian (NASDAQ:APPN)‘s stock had its “neutral” rating reaffirmed by stock analysts at DA Davidson in a report issued on Monday, Benzinga reports. They currently have a $33.00 price objective on the stock. DA Davidson’s price target indicates a potential upside of 6.49% from the stock’s current price.

A number of other analysts also recently weighed in on the company. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group lowered their price target on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Finally, Barclays cut their price objective on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Appian has a consensus rating of “Hold” and an average target price of $39.20.

Appian Trading Down 2.8 %

Appian stock opened at $30.99 on Monday. Appian has a 12 month low of $26.28 and a 12 month high of $44.28. The stock’s 50 day simple moving average is $31.85 and its two-hundred day simple moving average is $32.53. The firm has a market cap of $2.24 billion, a PE ratio of -21.08 and a beta of 1.57.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. The firm had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.55) EPS. On average, equities research analysts forecast that Appian will post -1.07 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp bought 62,500 shares of the stock in a transaction on Monday, July 22nd. The stock was purchased at an average price of $34.91 per share, for a total transaction of $2,181,875.00. Following the acquisition, the insider now owns 7,495,647 shares in the company, valued at approximately $261,673,036.77. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 1,721,776 shares of company stock valued at $55,724,576. 44.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Appian

Several hedge funds have recently bought and sold shares of APPN. Vanguard Group Inc. increased its stake in Appian by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock valued at $176,602,000 after acquiring an additional 132,827 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Appian in the fourth quarter valued at $210,000. Los Angeles Capital Management LLC increased its stake in Appian by 14.1% in the first quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock valued at $930,000 after purchasing an additional 2,881 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Appian in the first quarter valued at $220,000. Finally, Concord Wealth Partners bought a new stake in Appian in the first quarter valued at $85,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Company Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.