Analysts Set Appian Co. (NASDAQ:APPN) Target Price at $40.20

Shares of Appian Co. (NASDAQ:APPN) have been assigned a consensus rating of “Hold” from the six analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $40.20.

A number of equities research analysts have commented on the company. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. DA Davidson restated a “neutral” rating and issued a $33.00 target price on shares of Appian in a research note on Monday, October 14th. The Goldman Sachs Group reduced their price target on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Barclays boosted their target price on Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th.

Appian Price Performance

NASDAQ APPN opened at $36.54 on Friday. Appian has a one year low of $26.28 and a one year high of $43.33. The business has a 50 day simple moving average of $34.10 and a 200 day simple moving average of $32.23. The stock has a market capitalization of $3.12 billion, a P/E ratio of -29.86 and a beta of 1.57.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of Appian stock in a transaction on 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 acquisition, the insider now owns 10,179,538 shares of the company’s stock, valued at approximately $343,559,407.50. The trade was a 0.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 199,512 shares of company stock valued at $6,330,479 in the last 90 days. Insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently made changes to their positions in APPN. Allspring Global Investments Holdings LLC purchased a new stake in Appian during the 3rd quarter valued at $29,000. Neo Ivy Capital Management purchased a new stake in Appian during the 2nd quarter valued at $65,000. Canada Pension Plan Investment Board bought a new position in shares of Appian during the 2nd quarter valued at $96,000. nVerses Capital LLC bought a new position in shares of Appian during the 2nd quarter valued at $105,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Appian during the 2nd quarter valued at $121,000. Hedge funds and other institutional investors 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.