Appian (NASDAQ:APPN) Coverage Initiated by Analysts at Scotiabank

Analysts at Scotiabank started coverage on shares of Appian (NASDAQ:APPN) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set a “sector perform” rating and a $37.00 price target on the stock. Scotiabank’s price target suggests a potential upside of 9.18% from the company’s current price.

APPN has been the topic of a number of other research reports. DA Davidson reissued a “neutral” rating and issued a $33.00 price target on shares of Appian in a report on Monday, October 14th. Barclays boosted their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.17.

Appian Price Performance

Shares of Appian stock opened at $33.89 on Monday. The company has a 50 day simple moving average of $37.00 and a two-hundred day simple moving average of $33.79. The firm has a market cap of $2.89 billion, a PE ratio of -27.78 and a beta of 1.61. Appian has a 1 year low of $26.28 and a 1 year high of $43.33.

Insider Activity at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the transaction, the director now directly owns 7,966 shares in the company, valued at $308,921.48. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 44.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Appian

A number of large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Appian by 0.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock worth $2,739,000 after purchasing an additional 491 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Appian by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after purchasing an additional 686 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Appian in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after purchasing an additional 1,088 shares during the period. Finally, Rhumbline Advisers increased its stake in Appian by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock worth $1,845,000 after buying an additional 1,386 shares in the last quarter. 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.