Analysts Set Appian Corporation (NASDAQ:APPN) PT at $38.40

Appian Corporation (NASDAQ:APPN) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $38.40.

APPN has been the subject of a number of research analyst reports. TD Cowen restated a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Appian in a research note on Monday, December 29th. DA Davidson started coverage on shares of Appian in a research report on Friday, November 7th. They set a “hold” rating and a $38.00 price target on the stock. Barclays lowered their price objective on Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a report on Monday, January 12th. Finally, Wall Street Zen cut Appian from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd.

Institutional Trading of Appian

Several large investors have recently added to or reduced their stakes in APPN. EverSource Wealth Advisors LLC lifted its holdings in shares of Appian by 282.5% in the third quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 599 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Appian by 693.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after acquiring an additional 846 shares in the last quarter. Allworth Financial LP lifted its holdings in Appian by 175.2% in the 3rd quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after acquiring an additional 720 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Appian by 89.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock valued at $36,000 after acquiring an additional 564 shares during the last quarter. Finally, State of Wyoming boosted its position in shares of Appian by 55.0% during the 4th quarter. State of Wyoming now owns 1,462 shares of the company’s stock valued at $52,000 after purchasing an additional 519 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Trading Down 10.9%

Shares of APPN stock opened at $23.41 on Monday. The company has a market cap of $1.73 billion, a PE ratio of -234.08 and a beta of 0.90. The company’s fifty day simple moving average is $32.91 and its 200-day simple moving average is $32.63. Appian has a 52 week low of $22.80 and a 52 week high of $46.06.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.