Appian Co. (NASDAQ:APPN) Receives Average Recommendation of “Hold” from Analysts

Shares of Appian Co. (NASDAQ:APPN) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $37.80.

A number of research analysts have recently weighed in on the stock. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Barclays raised their price target on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, Scotiabank assumed coverage on Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective on the stock.

Insiders Place Their Bets

In related news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the transaction, the director now directly owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 44.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new position in Appian during the third quarter worth approximately $266,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Appian by 88.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock valued at $2,412,000 after buying an additional 33,232 shares during the period. King Luther Capital Management Corp grew its stake in shares of Appian by 41.4% during the 3rd quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock valued at $4,888,000 after buying an additional 41,922 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Appian during the 3rd quarter worth $393,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Appian by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock worth $11,432,000 after buying an additional 3,817 shares during the period. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Appian Stock Performance

Appian stock opened at $31.96 on Friday. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -25.37 and a beta of 1.65. The stock’s fifty day moving average is $32.74 and its two-hundred day moving average is $34.25.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Appian’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts forecast that Appian will post -0.28 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.