Appian Co. (NASDAQ:APPN) Receives $39.20 Consensus Target Price from Brokerages

Shares of Appian Co. (NASDAQ:APPN) have received an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $39.20.

A number of equities research analysts have recently issued reports on APPN shares. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group cut their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. DA Davidson reaffirmed a “neutral” rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. Barclays dropped their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research report 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 Stock Up 0.9 %

Appian stock opened at $32.30 on Tuesday. The company’s 50-day moving average price is $32.19 and its two-hundred day moving average price is $32.23. The stock has a market cap of $2.33 billion, a P/E ratio of -21.97 and a beta of 1.57. Appian has a twelve month low of $26.28 and a twelve month high of $42.99.

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

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average cost of $36.74 per share, with a total value of $5,511,000.00. Following the completion of the purchase, the insider now directly owns 8,105,847 shares of the company’s stock, valued at $297,808,818.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders bought 1,344,276 shares of company stock valued at $42,340,851. Company insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in 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 acquiring an additional 392,190 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in Appian during the 2nd quarter worth approximately $7,715,000. CANADA LIFE ASSURANCE Co increased its position in Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after purchasing an additional 196,435 shares in the last quarter. Edgestream Partners L.P. bought a new position in Appian in the 2nd quarter valued at approximately $4,657,000. Finally, Baillie Gifford & Co. boosted its position in Appian by 5.6% in the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after buying an additional 93,251 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

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.