Appian Co. (NASDAQ:APPN) Receives $40.17 Average Target Price from Analysts

Appian Co. (NASDAQ:APPN) has been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.80.

A number of brokerages recently issued reports on APPN. KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank initiated coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th.

Insiders Place Their Bets

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the transaction, the director now owns 29,348 shares of the company’s stock, valued at $974,647.08. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in shares of Appian during the 4th quarter worth $35,000. Canada Pension Plan Investment Board increased its holdings in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after buying an additional 500 shares during the last quarter. Russell Investments Group Ltd. raised its position in Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after acquiring an additional 3,498 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Appian in the fourth quarter valued at about $181,000. Finally, FMR LLC grew its position in shares of Appian by 199.4% during the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after acquiring an additional 3,953 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Trading Down 3.2 %

Shares of NASDAQ APPN opened at $30.44 on Friday. The firm has a market capitalization of $2.25 billion, a P/E ratio of -24.16 and a beta of 1.65. The firm’s 50-day moving average price is $32.63 and its 200-day moving average price is $34.20. Appian has a 1-year low of $26.28 and a 1-year high of $43.33.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. Equities research analysts forecast that Appian will post -0.28 EPS for the current 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.