Appian (NASDAQ:APPN) Stock Price Expected to Rise, Citigroup Analyst Says

Appian (NASDAQ:APPN) had its price target lifted by Citigroup from $40.00 to $41.00 in a report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on APPN. DA Davidson upped their price target on Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. KeyCorp restated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Barclays lifted their target price on shares of Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a report on Friday, May 9th. Finally, Morgan Stanley increased their price target on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.29.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $32.90 on Tuesday. The company has a 50-day simple moving average of $29.43 and a 200-day simple moving average of $33.34. Appian has a one year low of $24.00 and a one year high of $43.33. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -26.11 and a beta of 1.83.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $166.43 million for the quarter, compared to analysts’ expectations of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) EPS. As a group, research analysts forecast that Appian will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the sale, the insider now directly owns 9,942,140 shares in the company, valued at $263,367,288.60. The trade was a 0.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction dated Monday, February 24th. The shares were 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 approximately $974,647.08. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 380,560 shares of company stock valued at $11,124,633. Corporate insiders own 43.00% of the company’s stock.

Institutional Trading of Appian

Several large investors have recently modified their holdings of APPN. Point72 Hong Kong Ltd acquired a new position in shares of Appian during the 4th quarter worth approximately $35,000. Concord Wealth Partners grew its holdings in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after buying an additional 461 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after buying an additional 500 shares in the last quarter. Headlands Technologies LLC increased its position in Appian by 2,052.0% during the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock worth $122,000 after buying an additional 4,022 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of 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 acquiring an additional 3,498 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.