Appian Co. (NASDAQ:APPN) Receives Consensus Recommendation of “Hold” from Analysts

Appian Co. (NASDAQ:APPN) has received an average rating of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $37.80.

A number of brokerages have recently commented on APPN. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Barclays upped their target price on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Finally, Scotiabank started coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target on the stock.

Insider Buying and Selling at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of Appian 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 sale, the director now owns 29,348 shares of the company’s stock, valued at approximately $974,647.08. The trade was a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Appian

Several hedge funds have recently modified their holdings of APPN. Oppenheimer & Co. Inc. acquired a new stake in Appian in the third quarter valued at $266,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Appian by 88.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock valued at $2,412,000 after purchasing an additional 33,232 shares in the last quarter. King Luther Capital Management Corp lifted its stake in shares of Appian by 41.4% in the third quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock valued at $4,888,000 after purchasing an additional 41,922 shares during the period. Intech Investment Management LLC purchased a new stake in Appian during the third quarter worth about $393,000. Finally, Charles Schwab Investment Management Inc. grew its position in Appian by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock worth $11,432,000 after buying an additional 3,817 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Price Performance

Shares of APPN opened at $31.96 on Friday. The firm has a fifty day moving average price of $32.74 and a 200 day moving average price of $34.25. The stock has a market cap of $2.37 billion, a PE ratio of -25.37 and a beta of 1.65. Appian has a 1-year low of $26.28 and a 1-year high of $43.33.

Appian (NASDAQ:APPN) last announced 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). The firm had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 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 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. As a group, equities 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.