Appian (NASDAQ:APPN) Reaches New 52-Week Low – Should You Sell?

Appian Corporation (NASDAQ:APPN)’s stock price reached a new 52-week low on Thursday . The company traded as low as $22.80 and last traded at $23.41, with a volume of 1969092 shares. The stock had previously closed at $26.28.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. DA Davidson started coverage on shares of Appian in a research note on Friday, November 7th. They set a “hold” rating and a $38.00 target price for the company. Zacks Research lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. TD Cowen reissued a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Morgan Stanley upgraded shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Appian in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.40.

Appian Trading Up 0.4%

The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -234.98 and a beta of 0.90. The firm’s 50 day simple moving average is $32.91 and its 200-day simple moving average is $32.63.

Institutional Investors Weigh In On Appian

A number of institutional investors and hedge funds have recently bought and sold shares of APPN. Y Intercept Hong Kong Ltd acquired a new position in Appian during the second quarter worth approximately $3,992,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Appian by 47.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 374,764 shares of the company’s stock valued at $11,190,000 after acquiring an additional 119,852 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in Appian during the second quarter worth $3,135,000. Arrowstreet Capital Limited Partnership boosted its holdings in Appian by 211.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 690,788 shares of the company’s stock worth $20,627,000 after purchasing an additional 469,259 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Appian during the second quarter valued at $874,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.