Barclays Lowers Appian (NASDAQ:APPN) Price Target to $28.00

Appian (NASDAQ:APPN) had its price objective cut by Barclays from $37.00 to $28.00 in a research report report published on Monday morning,Benzinga reports. They currently have an underweight rating on the stock.

APPN has been the subject of a number of other reports. DA Davidson reduced their price objective on shares of Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley decreased their price objective on shares of Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Scotiabank began coverage on Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Appian has a consensus rating of “Hold” and a consensus target price of $33.67.

Appian Stock Performance

Appian stock opened at $25.83 on Monday. Appian has a 1 year low of $24.00 and a 1 year high of $43.33. The firm’s 50 day moving average price is $30.03 and its two-hundred day moving average price is $33.43. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -20.50 and a beta of 1.78.

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). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts predict that Appian will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $27.02, for a total transaction of $137,883.06. Following the completion of the sale, the insider now directly owns 9,755,116 shares in the company, valued at $263,583,234.32. The trade was a 0.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the transaction, the director now owns 29,348 shares in the company, valued at $974,647.08. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 240,510 shares of company stock worth $6,648,635 in the last quarter. 44.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Appian

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Appian by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock worth $165,839,000 after buying an additional 23,890 shares during the last quarter. Lead Edge Capital Management LLC lifted its holdings in Appian by 5.7% in the 4th quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company’s stock worth $50,396,000 after purchasing an additional 83,000 shares during the last quarter. First Trust Advisors LP lifted its holdings in Appian by 7.1% in the 4th quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after purchasing an additional 83,708 shares during the last quarter. Geode Capital Management LLC boosted its position in Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock worth $32,071,000 after purchasing an additional 14,710 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in Appian by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company’s stock valued at $21,722,000 after purchasing an additional 106,023 shares during the last quarter. 52.70% of the stock is currently owned by 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.