Appian (NASDAQ:APPN) Stock Price Up 7.1% – What’s Next?

Shares of Appian Co. (NASDAQ:APPN) shot up 7.1% during mid-day trading on Tuesday . The company traded as high as $37.25 and last traded at $37.16. 122,946 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 369,988 shares. The stock had previously closed at $34.70.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APPN. Barclays upped their target price on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Scotiabank initiated coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target on the stock. DA Davidson reiterated a “neutral” rating and issued a $33.00 price target on shares of Appian in a research note on Monday, October 14th. Finally, KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.17.

Appian Stock Performance

The firm has a market cap of $3.00 billion, a P/E ratio of -28.83 and a beta of 1.61. The company’s 50 day moving average is $35.68 and its 200 day moving average is $34.19.

Insider Activity at Appian

In other news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the transaction, the director now owns 7,966 shares in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 44.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Appian

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Appian in the fourth quarter valued at $208,000. Chicago Partners Investment Group LLC lifted its holdings in Appian by 18.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock valued at $1,081,000 after buying an additional 4,813 shares during the period. Arete Wealth Advisors LLC bought a new stake in Appian in the third quarter valued at $291,000. Geode Capital Management LLC boosted its holdings in Appian by 0.6% during the third quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after purchasing an additional 5,772 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after purchasing an additional 53,172 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

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.