Appian (NASDAQ:APPN) Hits New 12-Month Low – What’s Next?

Appian Co. (NASDAQ:APPN) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $26.12 and last traded at $26.34, with a volume of 102193 shares. The stock had previously closed at $27.95.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. KeyCorp reissued a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank began coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price for the company. Finally, Barclays increased their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.80.

Appian Price Performance

The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -21.04 and a beta of 1.78. The company’s 50 day simple moving average is $32.21 and its 200 day simple moving average is $34.11.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Insider Transactions at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, the director now owns 29,348 shares of the company’s stock, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of Appian during the fourth quarter valued at $35,000. Canada Pension Plan Investment Board boosted its stake in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Appian by 1,244.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after acquiring an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Appian during the fourth quarter valued at $181,000. Finally, FMR LLC raised its holdings in Appian by 199.4% during the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

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.