Appian (NASDAQ:APPN) had its price objective upped by equities researchers at Barclays to $27.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “underweight” rating on the stock. Barclays’ price objective would suggest a potential downside of 6.05% from the stock’s previous close.
Other analysts also recently issued research reports about the company. BidaskClub raised Appian from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. SunTrust Banks started coverage on Appian in a research report on Tuesday, November 21st. They issued a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research raised Appian from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, November 7th. Morgan Stanley lifted their target price on Appian from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Appian in a research report on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.29.
Shares of Appian (NASDAQ APPN) opened at $28.74 on Friday. Appian has a 12 month low of $14.60 and a 12 month high of $43.26.
Appian (NASDAQ:APPN) last released its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $50.60 million during the quarter, compared to analyst estimates of $41.78 million. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. sell-side analysts forecast that Appian will post -0.58 EPS for the current fiscal year.
In other Appian news, major shareholder Abdiel Capital Management, Llc purchased 5,258 shares of the stock in a transaction on Monday, December 4th. The shares were purchased at an average price of $20.48 per share, with a total value of $107,683.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder M James Barrett sold 569,620 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $19.49, for a total value of $11,101,893.80. The disclosure for this sale can be found here. In the last three months, insiders have acquired 512,543 shares of company stock worth $10,557,263.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG increased its position in Appian by 421.7% during the fourth quarter. Deutsche Bank AG now owns 7,945 shares of the company’s stock worth $250,000 after buying an additional 6,422 shares during the last quarter. Needham Investment Management LLC acquired a new position in Appian during the fourth quarter worth approximately $630,000. Telemark Asset Management LLC increased its position in Appian by 85.0% during the fourth quarter. Telemark Asset Management LLC now owns 370,000 shares of the company’s stock worth $11,648,000 after buying an additional 170,000 shares during the last quarter. Geode Capital Management LLC increased its position in Appian by 42.6% during the fourth quarter. Geode Capital Management LLC now owns 67,783 shares of the company’s stock worth $2,133,000 after buying an additional 20,261 shares during the last quarter. Finally, Georgetown University bought a new stake in shares of Appian during the fourth quarter worth approximately $420,000. 14.22% of the stock is currently owned by hedge funds and other institutional investors.
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Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.
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