Appian Co. (NASDAQ:APPN) Receives $40.80 Average PT from Analysts

Appian Co. (NASDAQ:APPN) has earned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $40.17.

A number of equities research analysts recently commented on APPN shares. Barclays raised their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. DA Davidson reissued a “neutral” rating and issued a $33.00 price target on shares of Appian in a research note on Monday, October 14th. Finally, Scotiabank began coverage on Appian in a research report on Monday. They set a “sector perform” rating and a $37.00 price objective for the company.

Insider Transactions at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the company’s 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 sale, the director now directly owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

A number of hedge funds and other institutional investors have recently bought and sold shares of APPN. Allspring Global Investments Holdings LLC bought a new position in shares of Appian in the third quarter valued at about $29,000. Canada Pension Plan Investment Board acquired a new position in Appian in the 2nd quarter valued at about $96,000. Point72 Hong Kong Ltd bought a new position in Appian in the 2nd quarter valued at about $121,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after acquiring an additional 1,088 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after acquiring an additional 3,953 shares during the period. Institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

NASDAQ APPN opened at $35.11 on Friday. Appian has a 52-week low of $26.28 and a 52-week high of $43.33. The business has a 50 day simple moving average of $37.03 and a 200 day simple moving average of $33.84. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -28.78 and a beta of 1.61.

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.