Appian Co. (NASDAQ:APPN) Receives $36.14 Consensus PT from Brokerages

Shares of Appian Co. (NASDAQ:APPN) have received a consensus rating of “Hold” from the eight analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $36.29.

APPN has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on shares of Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Scotiabank cut their price target on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Citigroup lifted their price target on shares of Appian from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday. Barclays lifted their price target 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, DA Davidson boosted their target price on shares of Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, May 9th.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $31.96, for a total value of $4,475,998.00. Following the completion of the transaction, the insider now owns 9,615,066 shares of the company’s stock, valued at $307,297,509.36. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction dated 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 directly owns 29,348 shares of the company’s stock, valued at approximately $974,647.08. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 380,560 shares of company stock worth $11,124,633. Corporate insiders own 43.00% of the company’s stock.

Hedge Funds Weigh In On Appian

Large investors have recently modified their holdings of the stock. Barclays PLC raised its position in shares of Appian by 285.9% in the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after purchasing an additional 53,172 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Appian in the 4th quarter worth about $1,688,000. Geode Capital Management LLC raised its position in Appian by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock worth $32,071,000 after buying an additional 14,710 shares during the last quarter. Handelsbanken Fonder AB raised its position in Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock worth $284,000 after buying an additional 1,100 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Appian by 0.5% in the 4th 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. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Up 0.2%

NASDAQ:APPN opened at $32.97 on Friday. The stock has a market cap of $2.44 billion, a P/E ratio of -26.17 and a beta of 1.83. The firm’s fifty day simple moving average is $29.46 and its 200 day simple moving average is $33.34. Appian has a twelve month low of $24.00 and a twelve month high of $43.33.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $166.43 million for the quarter, compared to analysts’ expectations of $163.27 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 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.24) earnings per share. On average, analysts expect that Appian will post -0.28 EPS for the current fiscal year.

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.