Analysts Set Appian Co. (NASDAQ:APPN) PT at $39.20

Appian Co. (NASDAQ:APPN) has received a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $39.20.

Several equities research analysts recently weighed in on the company. Barclays dropped their price target on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, August 5th. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. DA Davidson reissued a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. Finally, The Goldman Sachs Group cut their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd.

Appian Stock Performance

Shares of APPN stock opened at $32.00 on Tuesday. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $42.99. The firm has a market cap of $2.31 billion, a P/E ratio of -21.77 and a beta of 1.57. The business’s 50 day moving average price is $32.14 and its 200-day moving average price is $32.29.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $142.87 million. During the same quarter in the previous year, the business posted ($0.55) earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts predict that Appian will post -1.07 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Abdiel Capital Advisors, Lp bought 150,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $37.76 per share, for a total transaction of $5,664,000.00. Following the completion of the purchase, the insider now owns 7,805,847 shares in the company, valued at approximately $294,748,782.72. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 1,344,276 shares of company stock worth $42,340,851 in the last quarter. Corporate insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Appian by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after purchasing an additional 392,190 shares during the period. Empyrean Capital Partners LP purchased a new stake in Appian during the 2nd quarter valued at $7,715,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after buying an additional 196,435 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Appian in the 2nd quarter worth $4,657,000. Finally, Baillie Gifford & Co. grew its holdings in shares of Appian by 5.6% in the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after acquiring an additional 93,251 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

About Appian

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.