Appian Corporation (APPN) Price Target Raised to $19.00

Appian Corporation (NASDAQ:APPN) had its price objective hoisted by equities researchers at Morgan Stanley from $18.00 to $19.00 in a research note issued on Friday, November 3rd. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 11.63% from the stock’s current price.

Several other research firms have also recently weighed in on APPN. Canaccord Genuity raised their price target on Appian Corporation from $19.00 to $22.00 and gave the company a “hold” rating in a report on Monday, October 30th. Zacks Investment Research cut Appian Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Cowen and Company cut Appian Corporation from an “outperform” rating to a “market perform” rating and set a $23.00 price objective on the stock. in a report on Monday, October 2nd. KeyCorp reissued a “hold” rating on shares of Appian Corporation in a report on Monday, September 18th. Finally, Barclays PLC reissued an “equal weight” rating and set a $20.00 price objective (up from $19.00) on shares of Appian Corporation in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Appian Corporation presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Appian Corporation (APPN) traded up $0.83 during trading hours on Friday, hitting $21.50. The company’s stock had a trading volume of 260,435 shares, compared to its average volume of 254,453. Appian Corporation has a 1 year low of $14.60 and a 1 year high of $28.65.

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In related news, major shareholder Abdiel Capital Management, Llc purchased 28,600 shares of Appian Corporation stock in a transaction that occurred on Monday, September 25th. The shares were acquired at an average cost of $22.14 per share, for a total transaction of $633,204.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel purchased 450,000 shares of Appian Corporation stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $20.15 per share, for a total transaction of $9,067,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 596,376 shares of company stock worth $12,316,507 and have sold 527,602 shares worth $10,282,963.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN bought a new position in Appian Corporation during the 2nd quarter worth approximately $2,162,000. Eagle Asset Management Inc. bought a new stake in shares of Appian Corporation in the 2nd quarter worth approximately $2,716,000. Abdiel Capital Advisors LP bought a new stake in shares of Appian Corporation in the 2nd quarter worth approximately $56,982,000. Spark Investment Management LLC bought a new stake in shares of Appian Corporation in the 2nd quarter worth approximately $2,355,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Appian Corporation in the 2nd quarter worth approximately $8,134,000. Institutional investors and hedge funds own 11.56% of the company’s stock.

Appian Corporation Company Profile

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

Analyst Recommendations for Appian Corporation (NASDAQ:APPN)

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