Appian (NASDAQ:APPN) Stock Rating Reaffirmed by DA Davidson

DA Davidson reiterated their neutral rating on shares of Appian (NASDAQ:APPN) in a research note published on Monday morning, Benzinga reports. They currently have a $33.00 target price on the stock.

APPN has been the topic of a number of other reports. Barclays lowered their price target on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group lowered their price target on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.20.

Appian Stock Down 1.0 %

APPN stock opened at $30.81 on Monday. Appian has a twelve month low of $26.28 and a twelve month high of $43.64. The stock has a market cap of $2.23 billion, a P/E ratio of -20.96 and a beta of 1.57. The business’s 50-day moving average price is $31.98 and its 200-day moving average price is $32.51.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The company had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $142.87 million. During the same period in the previous year, the firm earned ($0.55) EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Appian will post -1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 1,486 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $32.98 per share, for a total transaction of $49,008.28. Following the purchase, the insider now directly owns 10,088,411 shares of the company’s stock, valued at $332,715,794.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased 1,521,776 shares of company stock worth $48,666,576 in the last three months. 44.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new position in shares of Appian in the second quarter valued at about $65,000. Concord Wealth Partners acquired a new position in shares of Appian in the first quarter valued at about $85,000. Canada Pension Plan Investment Board acquired a new position in shares of Appian in the second quarter valued at about $96,000. nVerses Capital LLC acquired a new position in shares of Appian in the second quarter valued at about $105,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Appian in the second quarter valued at about $121,000. 52.70% of the stock is 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.