Appian Co. (NASDAQ:APPN) Receives $46.43 Average Price Target from Analysts

Shares of Appian Co. (NASDAQ:APPN) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $46.43.

Several analysts recently issued reports on APPN shares. Citigroup upped their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Barclays reduced their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, May 3rd. Finally, KeyCorp reduced their price target on shares of Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, May 3rd.

Appian Price Performance

NASDAQ APPN opened at $35.37 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. The company has a fifty day simple moving average of $30.62 and a 200 day simple moving average of $33.65. The company has a market cap of $2.56 billion, a P/E ratio of -24.06 and a beta of 1.48. Appian has a 1 year low of $26.28 and a 1 year high of $52.99.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $149.80 million for the quarter, compared to the consensus estimate of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. Appian’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.42) earnings per share. On average, sell-side analysts predict that Appian will post -1.38 EPS for the current year.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 475,000 shares of Appian stock in a transaction dated Friday, July 5th. The stock was bought at an average cost of $30.94 per share, with a total value of $14,696,500.00. Following the acquisition, the insider now owns 6,365,304 shares of the company’s stock, valued at $196,942,505.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Abdiel Capital Advisors, Lp purchased 475,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was purchased at an average cost of $30.94 per share, with a total value of $14,696,500.00. Following the acquisition, the insider now directly owns 6,365,304 shares of the company’s stock, valued at approximately $196,942,505.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Albert G.W. Biddle III purchased 3,225 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $28.02 per share, with a total value of $90,364.50. Following the completion of the acquisition, the director now directly owns 19,689 shares in the company, valued at $551,685.78. The disclosure for this purchase can be found here. In the last three months, insiders acquired 904,068 shares of company stock valued at $29,283,077. Company insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

Several institutional investors have recently added to or reduced their stakes in APPN. Headlands Technologies LLC bought a new position in Appian during the 4th quarter valued at about $47,000. Concord Wealth Partners acquired a new stake in Appian in the 1st quarter valued at about $85,000. Quest Partners LLC acquired a new stake in Appian in the 4th quarter valued at about $177,000. Victory Capital Management Inc. increased its position in Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after acquiring an additional 1,027 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Appian in the 4th quarter valued at about $210,000. 52.70% of the stock is owned by institutional investors.

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.