Appian (NASDAQ:APPN) Earns Neutral Rating from DA Davidson

Appian (NASDAQ:APPN)‘s stock had its “neutral” rating reaffirmed by investment analysts at DA Davidson in a report issued on Tuesday, Benzinga reports. They presently have a $33.00 price objective on the stock, down from their prior price objective of $48.00. DA Davidson’s target price points to a potential downside of 10.86% from the stock’s current price.

A number of other analysts have also recently commented on the stock. KeyCorp upped their target price on shares of Appian from $37.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays reduced their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.29.

Appian Stock Down 2.1 %

Shares of NASDAQ APPN traded down $0.78 during midday trading on Tuesday, hitting $37.02. The stock had a trading volume of 1,970,428 shares, compared to its average volume of 541,405. The business’s 50 day moving average is $31.07 and its 200-day moving average is $33.73. The company has a market cap of $2.67 billion, a P/E ratio of -25.18 and a beta of 1.48. Appian has a 52 week low of $26.28 and a 52 week high of $52.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68.

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

Insider Buying and Selling

In related news, Director Albert G.W. Biddle III bought 3,225 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the transaction, the director now owns 19,689 shares in the company, valued at $551,685.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 475,000 shares of the stock in a transaction on Friday, July 5th. The stock was acquired at an average price of $30.94 per share, for a total transaction of $14,696,500.00. Following the completion of the transaction, the insider now directly owns 6,365,304 shares of the company’s stock, valued at $196,942,505.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Albert G.W. Biddle III acquired 3,225 shares of the stock in a transaction on Thursday, May 30th. The shares were acquired at an average price of $28.02 per share, with a total value of $90,364.50. Following the transaction, the director now directly owns 19,689 shares of the company’s stock, valued at $551,685.78. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,081,568 shares of company stock worth $35,608,802. 44.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Appian

Several institutional investors have recently bought and sold shares of APPN. SG Americas Securities LLC bought a new position in Appian during the fourth quarter valued at $308,000. Arizona State Retirement System raised its stake in shares of Appian by 4.6% in the fourth quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock valued at $351,000 after acquiring an additional 411 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Appian by 1.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 466,062 shares of the company’s stock valued at $17,552,000 after acquiring an additional 4,543 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Appian by 107.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,670 shares of the company’s stock valued at $327,000 after acquiring an additional 4,490 shares during the period. Finally, Stanley Laman Group Ltd. purchased a new stake in shares of Appian in the fourth quarter valued at $7,955,000. Institutional investors own 52.70% of the company’s stock.

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.