Appian (NASDAQ:APPN) Price Target Cut to $29.00 by Analysts at Barclays

Appian (NASDAQ:APPN) had its price objective trimmed by Barclays from $32.00 to $29.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

APPN has been the topic of a number of other research reports. DA Davidson cut shares of Appian from a strong-buy rating to a hold rating in a research note on Wednesday, July 31st. KeyCorp cut shares of Appian from an overweight rating to a sector weight rating in a research note on Friday, August 2nd. William Blair cut shares of Appian from an outperform rating to a market perform rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group decreased their price objective on shares of Appian from $47.00 to $41.00 and set a buy rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $39.20.

Appian Stock Up 5.0 %

Shares of APPN opened at $28.39 on Monday. The company has a 50-day simple moving average of $31.05 and a 200-day simple moving average of $33.59. The firm has a market capitalization of $2.05 billion, a P/E ratio of -19.31 and a beta of 1.47. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33. Appian has a 52 week low of $26.28 and a 52 week high of $52.99.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The business had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 234.57%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. On average, equities research analysts expect that Appian will post -1.38 earnings per share for the current year.

Insider Activity

In other news, Director Albert G.W. Biddle III acquired 3,225 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $28.02 per share, with a total value of $90,364.50. Following the acquisition, the director now owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of Appian stock in a transaction on Friday, July 5th. The shares were purchased at an average price of $30.94 per share, for a total transaction of $14,696,500.00. Following the completion of the acquisition, the insider now owns 6,365,304 shares in the company, valued at $196,942,505.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Albert G.W. Biddle III purchased 3,225 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $28.02 per share, with a total value of $90,364.50. Following the completion of the purchase, the director now owns 19,689 shares in the company, valued at $551,685.78. The disclosure for this purchase can be found here. Insiders have purchased 1,381,568 shares of company stock valued at $46,783,802 over the last three months. 44.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of APPN. Crossmark Global Holdings Inc. boosted its position in shares of Appian by 3.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after purchasing an additional 280 shares in the last quarter. Arizona State Retirement System grew its stake in 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. ProShare Advisors LLC increased its holdings in shares of Appian by 10.0% in the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after acquiring an additional 758 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Appian by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Appian during the 4th quarter valued at about $47,000. Institutional investors and hedge funds 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.