Barclays Forecasts Strong Price Appreciation for Appian (NASDAQ:APPN) Stock

Appian (NASDAQ:APPN) had its price objective increased by investment analysts at Barclays from $29.00 to $34.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential downside of 16.63% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. DA Davidson restated a “neutral” rating and issued a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. The Goldman Sachs Group dropped their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.20.

Appian Stock Performance

NASDAQ:APPN opened at $40.78 on Friday. The firm’s 50-day moving average is $33.35 and its 200-day moving average is $32.24. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -27.37 and a beta of 1.57. Appian has a 52-week low of $26.28 and a 52-week high of $43.33.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.24. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm had revenue of $154.05 million for the quarter, compared to analyst estimates of $150.94 million. Equities analysts predict that Appian will post -1.08 EPS for the current year.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp bought 274,583 shares of Appian stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $30.05 per share, for a total transaction of $8,251,219.15. Following the completion of the transaction, the insider now owns 9,092,617 shares of the company’s stock, valued at approximately $273,233,140.85. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 819,276 shares of company stock worth $24,988,101. 44.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Appian

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Appian during the third quarter worth approximately $29,000. Neo Ivy Capital Management bought a new stake in shares of Appian during the 2nd quarter valued at $65,000. Canada Pension Plan Investment Board bought a new stake in shares of Appian during the 2nd quarter valued at $96,000. nVerses Capital LLC bought a new position in shares of Appian in the 2nd quarter worth $105,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Appian in the 2nd quarter worth $121,000. 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.