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

Shares of Appian Co. (NASDAQ:APPN) have been given a consensus rating of “Hold” by the six analysts that are presently covering the company, Marketbeat.com reports. One 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. The average 1-year target price among brokerages that have covered the stock in the last year is $39.20.

APPN has been the subject of several research analyst reports. William Blair lowered shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group cut their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Barclays lowered their price target on Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, August 5th. DA Davidson downgraded Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd.

Appian Trading Down 4.2 %

Shares of APPN stock opened at $30.04 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68. Appian has a twelve month low of $26.28 and a twelve month high of $52.99. The company’s 50-day moving average price is $32.15 and its 200-day moving average price is $33.16. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -20.44 and a beta of 1.56.

Appian (NASDAQ:APPN) last announced 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 business had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.55) EPS. As a group, equities analysts predict that Appian will post -1.07 earnings per share for the current year.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock in a transaction on Monday, July 29th. The shares were bought at an average price of $37.76 per share, with a total value of $5,664,000.00. Following the transaction, the insider now directly owns 7,805,847 shares of the company’s stock, valued at $294,748,782.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders purchased 2,301,512 shares of company stock worth $73,987,795. Company insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

A number of hedge funds and other institutional investors have recently modified their holdings of APPN. CANADA LIFE ASSURANCE Co increased its holdings in Appian by 70.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after buying an additional 196,435 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Appian in the 1st quarter valued at about $1,708,000. Hawk Ridge Capital Management LP raised its position in shares of Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after acquiring an additional 236,230 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new position in Appian in the fourth quarter valued at approximately $2,190,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.