Appian (NASDAQ:APPN) Price Target Increased to $36.00 by Analysts at Barclays

Appian (NASDAQ:APPN) had its price objective upped by Barclays from $35.00 to $36.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an underweight rating on the stock.

Other research analysts have also issued research reports about the company. DA Davidson cut their price target on Appian from $55.00 to $52.00 and set a buy rating on the stock in a report on Monday, March 4th. KeyCorp increased their price target on Appian from $45.00 to $50.00 and gave the stock an overweight rating in a report on Friday, February 16th. Citigroup raised their target price on Appian from $48.00 to $52.00 and gave the company a neutral rating in a report on Friday, March 22nd. Finally, William Blair reiterated an outperform rating on shares of Appian in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $48.86.

Appian Trading Down 1.5 %

NASDAQ APPN opened at $34.86 on Monday. The business has a 50 day simple moving average of $36.42 and a 200 day simple moving average of $37.03. Appian has a one year low of $30.87 and a one year high of $54.26. The stock has a market capitalization of $2.56 billion, a P/E ratio of -22.78 and a beta of 1.46. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.33. The business had revenue of $145.32 million for the quarter, compared to analyst estimates of $140.41 million. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. Research analysts expect that Appian will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the sale, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Appian

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Appian in the first quarter valued at $27,000. Headlands Technologies LLC purchased a new position in shares of Appian in the fourth quarter valued at $47,000. Captrust Financial Advisors grew its position in shares of Appian by 44.1% in the second quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after purchasing an additional 404 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the first quarter valued at $109,000. Finally, Tower Research Capital LLC TRC boosted its stake in Appian by 144.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock valued at $86,000 after buying an additional 1,065 shares during the period. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.