Appian’s (APPN) “Sector Weight” Rating Reiterated at KeyCorp

KeyCorp restated their sector weight rating on shares of Appian (NASDAQ:APPN) in a research report sent to investors on Tuesday, MarketBeat.com reports. KeyCorp also issued estimates for Appian’s Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.90) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at ($0.34) EPS and FY2026 earnings at $0.11 EPS.

A number of other equities research analysts have also recently commented on the stock. DA Davidson restated a “neutral” rating and issued a $33.00 price target on shares of Appian in a report on Monday, October 14th. Barclays raised their target price on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, Scotiabank initiated coverage on Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.17.

Appian Stock Up 1.0 %

Shares of APPN stock opened at $33.79 on Tuesday. The firm has a 50 day moving average of $36.61 and a 200-day moving average of $34.03. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -27.70 and a beta of 1.61. Appian has a 52 week low of $26.28 and a 52 week high of $43.33.

Insider Buying and Selling at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the transaction, the director now directly owns 7,966 shares of the company’s stock, valued at $308,921.48. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. Abdiel Capital Advisors LP increased its stake in Appian by 72.6% in the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock valued at $347,179,000 after buying an additional 4,278,969 shares during the last quarter. Empyrean Capital Partners LP bought a new position in shares of Appian in the second quarter valued at approximately $7,715,000. Edgestream Partners L.P. purchased a new stake in shares of Appian during the second quarter valued at approximately $4,657,000. BNP Paribas Financial Markets lifted its holdings in Appian by 282.8% during the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after acquiring an additional 99,198 shares during the period. Finally, 272 Capital LP purchased a new position in Appian in the second quarter worth $2,179,000. 52.70% of the stock is currently owned by hedge funds and other 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.