Appian (NASDAQ:APPN) Given New $34.00 Price Target at Barclays

Appian (NASDAQ:APPN) had its price target raised by Barclays from $29.00 to $34.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

APPN has been the topic of a number of other reports. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. DA Davidson reaffirmed a “neutral” rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. The Goldman Sachs Group decreased their price target on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.20.

Appian Stock Performance

Shares of Appian stock traded down $0.78 during trading on Friday, reaching $40.78. 503,206 shares of the company’s stock were exchanged, compared to its average volume of 551,419. Appian has a 1-year low of $26.28 and a 1-year high of $43.33. The company has a market cap of $2.95 billion, a P/E ratio of -27.37 and a beta of 1.57. The firm’s 50-day moving average price is $33.35 and its 200 day moving average price is $32.24.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.24. The business had revenue of $154.05 million during the quarter, compared to analysts’ expectations of $150.94 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. As a group, equities research analysts predict that Appian will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was purchased at an average price of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the transaction, the insider now directly owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought 819,276 shares of company stock valued at $24,988,101 over the last ninety days. 44.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Appian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. Allspring Global Investments Holdings LLC purchased a new position in shares of Appian during the third quarter worth about $29,000. Neo Ivy Capital Management purchased a new position in Appian in the 2nd quarter worth approximately $65,000. Canada Pension Plan Investment Board bought a new position in shares of Appian in the 2nd quarter worth $96,000. nVerses Capital LLC purchased a new stake in shares of Appian during the 2nd quarter valued at $105,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Appian during the 2nd quarter worth $121,000. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.