Appian Co. (NASDAQ:APPN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Appian Co. (NASDAQ:APPN) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $46.43.

APPN has been the topic of several recent research reports. DA Davidson reduced their price objective on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Citigroup increased their price target on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. KeyCorp lowered their price objective on shares of Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Finally, Barclays decreased their target price on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd.

Institutional Investors Weigh In On Appian

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $203,008,000 after acquiring an additional 392,190 shares during the last quarter. Hawk Ridge Capital Management LP increased its holdings in Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock valued at $70,043,000 after purchasing an additional 236,230 shares during the period. Baillie Gifford & Co. raised its position in Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after purchasing an additional 93,251 shares during the last quarter. First Trust Advisors LP lifted its holdings in Appian by 31.6% in the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after buying an additional 317,411 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Appian by 70.7% in the 1st 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 during the last quarter. Institutional investors own 52.70% of the company’s stock.

Appian Price Performance

Shares of NASDAQ:APPN opened at $29.67 on Friday. The company’s fifty day moving average price is $35.46 and its 200-day moving average price is $35.50. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -20.18 and a beta of 1.46. Appian has a one year low of $28.22 and a one year high of $54.26.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The company had revenue of $149.80 million during the quarter, compared to analysts’ expectations of $149.78 million. During the same quarter last year, the firm posted ($0.42) earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts anticipate that Appian will post -1.38 earnings per share for the current fiscal year.

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.