Appian Co. (NASDAQ:APPN) Receives $40.17 Average Target Price from Brokerages

Shares of Appian Co. (NASDAQ:APPN) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $37.80.

A number of equities analysts have recently commented on APPN shares. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Barclays raised their price objective on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, Scotiabank assumed coverage on Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price for the company.

Insider Activity

In related news, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the sale, the director now directly owns 29,348 shares in the company, valued at $974,647.08. This represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

A number of large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the 4th quarter worth approximately $35,000. Canada Pension Plan Investment Board boosted its stake in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after acquiring an additional 500 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after purchasing an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Appian during the fourth quarter worth $181,000. Finally, FMR LLC increased its position in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after purchasing an additional 3,953 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Appian Stock Up 3.7 %

APPN opened at $30.79 on Friday. The business has a fifty day moving average of $32.78 and a 200 day moving average of $34.23. Appian has a 52-week low of $26.28 and a 52-week high of $43.33. The stock has a market cap of $2.28 billion, a P/E ratio of -24.44 and a beta of 1.65.

Appian (NASDAQ:APPN) last issued its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. Equities analysts anticipate that Appian will post -0.28 EPS for the current fiscal year.

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.