Appian (NASDAQ:APPN) Hits New 52-Week Low at $26.55

Appian Co. (NASDAQ:APPN) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $26.55 and last traded at $26.87, with a volume of 20748 shares traded. The stock had previously closed at $26.96.

Analyst Ratings Changes

APPN has been the topic of a number of research analyst reports. Barclays lowered their price objective on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. Citigroup increased their price objective on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. KeyCorp lowered their target price on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. DA Davidson dropped their price objective on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, William Blair reiterated an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Appian currently has an average rating of “Moderate Buy” and an average price target of $46.43.

Appian Trading Down 0.6 %

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. The company has a fifty day moving average of $32.25 and a two-hundred day moving average of $34.59. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -18.24 and a beta of 1.43.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The firm had revenue of $149.80 million during the quarter, compared to analyst estimates of $149.78 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. Appian’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that Appian Co. will post -1.38 EPS for the current year.

Insider Activity

In other Appian news, Director Albert G.W. Biddle III acquired 3,225 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $28.02 per share, with a total value of $90,364.50. Following the transaction, the director now owns 19,689 shares of the company’s stock, valued at $551,685.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 44.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Appian

A number of institutional investors and hedge funds have recently bought and sold shares of APPN. Vanguard Group Inc. grew its position in Appian by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after purchasing an additional 147,785 shares during the last quarter. Hawk Ridge Capital Management LP grew its position in Appian by 14.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after buying an additional 236,230 shares in the last quarter. Roubaix Capital LLC bought a new stake in shares of Appian in the 4th quarter worth approximately $2,190,000. SG Americas Securities LLC acquired a new stake in shares of Appian during the 4th quarter worth approximately $308,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Appian by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 319,750 shares of the company’s stock worth $14,584,000 after purchasing an additional 9,900 shares during the period. Institutional investors own 52.70% of the company’s stock.

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.