Brokerages Set Appian Co. (NASDAQ:APPN) PT at $39.20

Shares of Appian Co. (NASDAQ:APPN) have earned an average rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $39.20.

A number of equities research analysts recently issued reports on APPN shares. The Goldman Sachs Group dropped their price target 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. Barclays dropped their target price on shares of Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, August 5th. William Blair downgraded shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st.

Appian Trading Down 0.1 %

APPN stock opened at $34.00 on Friday. Appian has a 52-week low of $26.28 and a 52-week high of $44.44. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.68. The firm has a market cap of $2.46 billion, a P/E ratio of -23.13 and a beta of 1.56. The company’s 50-day simple moving average is $32.00 and its 200-day simple moving average is $32.95.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The company had revenue of $146.50 million for the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.55) earnings per share. As a group, equities analysts forecast that Appian will post -1.07 EPS for the current fiscal year.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was bought at an average price of $33.75 per share, with a total value of $346,443.75. Following the purchase, the insider now owns 10,179,538 shares in the company, valued at $343,559,407.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have acquired 1,947,619 shares of company stock valued at $63,162,789. Corporate insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. increased its stake in shares of Appian by 3.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after acquiring an additional 280 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Appian by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after purchasing an additional 689 shares during the last quarter. ProShare Advisors LLC raised its stake in Appian by 10.0% during the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after purchasing an additional 758 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Appian by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock valued at $1,845,000 after buying an additional 1,386 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.