Appian Co. (NASDAQ:APPN) Receives $39.20 Consensus PT from Brokerages

Appian Co. (NASDAQ:APPN) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $39.20.

Several research firms have issued reports on APPN. DA Davidson reissued a “neutral” rating and set a $33.00 price target on shares of Appian in a report on Monday, October 14th. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group reduced their target price on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, Barclays dropped their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, August 5th.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of Appian stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average price of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the transaction, the insider now directly owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders acquired 1,344,276 shares of company stock worth $42,340,851. 44.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its position in shares of Appian by 3.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after buying an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Appian by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after acquiring an additional 689 shares in the last quarter. ProShare Advisors LLC raised its holdings 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 acquiring an additional 758 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Appian during the 3rd quarter valued at approximately $29,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after purchasing an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Trading Up 4.2 %

APPN opened at $32.00 on Tuesday. Appian has a 12-month low of $26.28 and a 12-month high of $42.99. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -21.77 and a beta of 1.57. The company’s 50 day moving average is $32.14 and its 200 day moving average is $32.29.

Appian (NASDAQ:APPN) last issued 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. The business had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.55) EPS. As a group, analysts predict that Appian will post -1.07 EPS for the current fiscal year.

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.