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

Shares of Appian Co. (NASDAQ:APPN) have been assigned a consensus rating of “Hold” from the six analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $39.20.

Several equities analysts have weighed in on APPN shares. William Blair lowered shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group decreased their price objective on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. DA Davidson cut Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Barclays decreased their price target on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research note on Monday, August 5th. Finally, KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd.

Appian Price Performance

NASDAQ:APPN opened at $32.44 on Monday. The stock has a 50 day moving average price of $31.98 and a 200 day moving average price of $33.33. The stock has a market cap of $2.35 billion, a PE ratio of -22.07 and a beta of 1.47. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24. Appian has a one year low of $26.28 and a one year high of $52.99.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The business had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the company earned ($0.55) EPS. Equities research analysts expect that Appian will post -1.07 EPS for the current fiscal year.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 23,126 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price of $31.24 per share, for a total transaction of $722,456.24. Following the acquisition, the insider now owns 9,882,783 shares of the company’s stock, valued at $308,738,140.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 2,301,512 shares of company stock worth $73,987,795 over the last ninety days. Company insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Appian by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after buying an additional 392,190 shares in the last quarter. First Trust Advisors LP grew its holdings in Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after acquiring an additional 317,411 shares in the last quarter. Norges Bank purchased a new stake in shares of Appian in the 4th quarter valued at approximately $10,534,000. Empyrean Capital Partners LP acquired a new stake in shares of Appian in the 2nd quarter valued at $7,715,000. Finally, Hawk Ridge Capital Management LP lifted its position in shares of Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.