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

Appian Co. (NASDAQ:APPN) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $48.86.

Several brokerages have recently commented on APPN. DA Davidson lowered their price target on Appian from $55.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. William Blair reissued an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. Citigroup increased their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Barclays boosted their target price on Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a research report on Monday, April 15th. Finally, KeyCorp raised their price target on Appian from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 43.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Appian

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Appian by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after buying an additional 147,785 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Appian during the 4th quarter worth about $308,000. Charles Schwab Investment Management Inc. lifted its stake in Appian by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 319,750 shares of the company’s stock worth $14,584,000 after purchasing an additional 9,900 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Appian in the third quarter valued at approximately $14,884,000. Finally, Graham Capital Management L.P. purchased a new position in Appian in the third quarter valued at approximately $560,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Stock Performance

APPN opened at $38.37 on Tuesday. The firm has a market capitalization of $2.82 billion, a PE ratio of -25.08 and a beta of 1.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. Appian has a twelve month low of $30.87 and a twelve month high of $54.26. The firm’s 50-day moving average price is $36.64 and its 200 day moving average price is $36.64.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The company had revenue of $145.32 million for the quarter, compared to analyst estimates of $140.41 million. As a group, sell-side analysts expect that Appian will post -0.9 EPS for the current fiscal year.

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.