Appian (NASDAQ:APPN) Price Target Cut to $29.00 by Analysts at Barclays

Appian (NASDAQ:APPN) had its price target lowered by Barclays from $32.00 to $29.00 in a research report released on Monday, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other analysts have also recently issued reports on APPN. The Goldman Sachs Group reduced their price objective on shares of Appian from $47.00 to $41.00 and set a buy rating for the company in a research note on Friday, August 2nd. KeyCorp cut shares of Appian from an overweight rating to a sector weight rating in a research note on Friday, August 2nd. DA Davidson cut shares of Appian from a strong-buy rating to a hold rating in a research note on Wednesday, July 31st. Finally, William Blair cut shares of Appian from an outperform rating to a market perform rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $39.20.

Appian Stock Up 5.0 %

APPN opened at $28.39 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. Appian has a 1-year low of $26.28 and a 1-year high of $52.99. The company has a market capitalization of $2.05 billion, a PE ratio of -19.31 and a beta of 1.47. The firm’s 50 day simple moving average is $31.05 and its two-hundred day simple moving average is $33.59.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 234.57%. The business had revenue of $146.50 million for the quarter, compared to the consensus estimate of $142.87 million. During the same period last year, the firm earned ($0.55) earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that Appian will post -1.38 EPS for the current year.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock in a transaction on Friday, July 5th. The shares were bought at an average cost of $30.94 per share, for a total transaction of $14,696,500.00. Following the acquisition, the insider now owns 6,365,304 shares in the company, valued at approximately $196,942,505.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Appian news, Director Albert G.W. Biddle III bought 3,225 shares of Appian stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $28.02 per share, for a total transaction of $90,364.50. Following the acquisition, the director now directly owns 19,689 shares in the company, valued at approximately $551,685.78. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of Appian stock in a transaction dated Friday, July 5th. The stock was acquired at an average price of $30.94 per share, for a total transaction of $14,696,500.00. Following the completion of the acquisition, the insider now owns 6,365,304 shares in the company, valued at $196,942,505.76. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,381,568 shares of company stock worth $46,783,802. Insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Large investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. boosted its stake in shares of Appian by 3.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after purchasing an additional 280 shares during the period. Arizona State Retirement System boosted its stake in shares of Appian by 4.6% during the 4th quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock worth $351,000 after purchasing an additional 411 shares during the period. ProShare Advisors LLC boosted its stake in shares of Appian by 10.0% during the 1st 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. Victory Capital Management Inc. boosted its stake in shares of Appian by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Appian during the 4th quarter worth about $47,000. 52.70% of the stock is currently owned by institutional investors.

About Appian

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.