Appian Co. (NASDAQ:APPN) Given Consensus Rating of “Hold” by Brokerages

Appian Co. (NASDAQ:APPN) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $36.29.

A number of analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. DA Davidson boosted their target price on shares of Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Scotiabank dropped their target price on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Barclays boosted 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, Citigroup boosted 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, May 13th.

Appian Stock Performance

Shares of APPN opened at $31.84 on Wednesday. The company’s 50 day moving average price is $29.80 and its 200 day moving average price is $32.70. Appian has a 52 week low of $24.00 and a 52 week high of $43.33. The company has a market capitalization of $2.36 billion, a PE ratio of -25.27 and a beta of 1.83.

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

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total value of $9,549,000.00. Following the sale, the insider now owns 8,430,391 shares of the company’s stock, valued at approximately $268,339,345.53. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 1,564,245 shares of company stock valued at $48,922,874. 43.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Appian

Large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Appian in the 4th quarter worth about $35,000. Canada Pension Plan Investment Board lifted its position in Appian by 27.8% during the 4th 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. Concord Wealth Partners lifted its position in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock worth $74,000 after buying an additional 461 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after buying an additional 3,498 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in Appian by 2,052.0% during the 1st 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. Institutional investors own 52.70% of the company’s stock.

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.