Analysts Set Appian Co. (NASDAQ:APPN) Target Price at $36.29

Shares of Appian Co. (NASDAQ:APPN) have received a consensus rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $36.29.

Several equities analysts recently issued reports on the company. Barclays lifted their price objective on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a report on Friday, May 9th. DA Davidson raised Appian to a “hold” rating in a research report on Monday. Morgan Stanley raised their price target on Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Scotiabank dropped their price target on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Finally, Citigroup raised their price target on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 1,400 shares of Appian stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $32.01, for a total value of $44,814.00. Following the completion of the sale, the insider now owns 9,199,001 shares of the company’s stock, valued at $294,460,022.01. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,141,195 shares of company stock valued at $67,441,394 over the last quarter. Company insiders own 43.00% of the company’s stock.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in Appian during the fourth quarter valued at about $35,000. Concord Wealth Partners grew its position in Appian by 21.7% during the first quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after acquiring an additional 461 shares during the period. Canada Pension Plan Investment Board grew its position in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after acquiring an additional 500 shares during the period. Headlands Technologies LLC grew its position in Appian by 2,052.0% during the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock valued at $122,000 after acquiring an additional 4,022 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after acquiring an additional 3,498 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

Shares of APPN stock opened at $31.45 on Wednesday. The stock has a fifty day moving average price of $30.09 and a 200 day moving average price of $32.51. The stock has a market cap of $2.33 billion, a PE ratio of -24.96 and a beta of 1.75. Appian has a 1 year low of $24.00 and a 1 year high of $43.33.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $166.43 million during the quarter, compared to analysts’ expectations of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. Appian’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.24) earnings per share. As a group, equities research analysts predict that Appian will post -0.28 earnings per share 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.