Appian’s (APPN) Neutral Rating Reaffirmed at DA Davidson

DA Davidson reissued their neutral rating on shares of Appian (NASDAQ:APPN) in a report issued on Monday, Benzinga reports. DA Davidson currently has a $33.00 target price on the stock.

APPN has been the subject of a number of other research reports. William Blair downgraded 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 Appian from $47.00 to $41.00 and set a buy rating for the company in a report on Friday, August 2nd. Barclays cut their price objective on Appian from $32.00 to $29.00 and set an underweight rating for the company in a report on Monday, August 5th. Finally, KeyCorp downgraded shares of Appian from an overweight rating to a sector weight rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $39.20.

Appian Stock Performance

Shares of NASDAQ APPN opened at $31.88 on Monday. The stock has a fifty day moving average price of $31.79 and a two-hundred day moving average price of $32.59. The firm has a market cap of $2.30 billion, a P/E ratio of -21.69 and a beta of 1.57. Appian has a 1 year low of $26.28 and a 1 year high of $44.28.

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

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp bought 62,500 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were acquired at an average cost of $34.91 per share, with a total value of $2,181,875.00. Following the completion of the transaction, the insider now directly owns 7,495,647 shares in the company, valued at $261,673,036.77. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have acquired 1,721,776 shares of company stock valued at $55,724,576. 44.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Appian

Institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its position in Appian by 70.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after buying an additional 196,435 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Appian in the first quarter valued at approximately $1,708,000. Vanguard Group Inc. increased its holdings in shares of Appian by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after purchasing an additional 392,190 shares in the last quarter. 272 Capital LP acquired a new stake in shares of Appian in the second quarter valued at approximately $2,179,000. Finally, Empyrean Capital Partners LP acquired a new stake in shares of Appian in the second quarter valued at approximately $7,715,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.