Appian (NASDAQ:APPN) Reaches New 1-Year Low at $28.35

Appian Co. (NASDAQ:APPN)’s stock price reached a new 52-week low on Thursday . The company traded as low as $28.35 and last traded at $29.06, with a volume of 459224 shares changing hands. The stock had previously closed at $36.73.

Analyst Ratings Changes

Several equities research analysts have commented on APPN shares. DA Davidson decreased their target price on shares of Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. William Blair restated an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. KeyCorp decreased their price objective on shares of Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday. Barclays decreased their price objective on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Citigroup boosted 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Appian has an average rating of “Moderate Buy” and a consensus price target of $46.43.

Appian Stock Up 3.1 %

The firm’s 50 day moving average is $36.71 and its two-hundred day moving average is $36.58. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -20.90 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 (NASDAQ:APPN) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The firm had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. On average, sell-side analysts predict that Appian Co. will post -0.9 EPS for the current year.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the completion of the transaction, the insider now owns 5,890,304 shares of the company’s stock, valued at approximately $191,081,461.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in Appian by 0.5% during the third quarter. Rhumbline Advisers now owns 59,692 shares of the company’s stock valued at $2,723,000 after buying an additional 299 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Appian by 4.6% during the 4th quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock valued at $351,000 after acquiring an additional 411 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Appian by 16.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock worth $225,000 after purchasing an additional 695 shares during the period. Victory Capital Management Inc. increased its holdings in Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Swiss National Bank raised its position in Appian by 1.8% in the third quarter. Swiss National Bank now owns 68,700 shares of the company’s stock valued at $3,133,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

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.