Brokerages Set Appian Co. (NASDAQ:APPN) Price Target at $40.17

Appian Co. (NASDAQ:APPN) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $40.17.

Several analysts recently commented on the company. Scotiabank assumed coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. Barclays raised their price objective on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Finally, KeyCorp reissued a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th.

Insider Activity

In other news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the transaction, the director now owns 7,966 shares in the company, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the transaction, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

A number of institutional investors have recently added to or reduced their stakes in the stock. Abdiel Capital Advisors LP lifted its position in Appian by 72.6% during the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after buying an additional 4,278,969 shares in the last quarter. Vanguard Group Inc. lifted its position in Appian by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock worth $165,839,000 after buying an additional 23,890 shares in the last quarter. Lead Edge Capital Management LLC lifted its position in Appian by 5.7% during the fourth quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company’s stock worth $50,396,000 after buying an additional 83,000 shares in the last quarter. First Trust Advisors LP lifted its position in Appian by 7.1% during the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after buying an additional 83,708 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock worth $32,071,000 after buying an additional 14,710 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Up 0.2 %

Appian stock opened at $32.47 on Monday. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -25.77 and a beta of 1.64. Appian has a 52 week low of $26.28 and a 52 week high of $43.33. The business’s 50-day moving average price is $33.83 and its 200 day moving average price is $34.27.

Appian (NASDAQ:APPN) last posted its earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. Equities analysts expect that Appian will post -0.28 EPS for the current 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.