Brokerages Set Appian Corporation (NASDAQ:APPN) PT at $38.40

Shares of Appian Corporation (NASDAQ:APPN) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $38.40.

A number of equities research analysts have weighed in on the company. DA Davidson began coverage on Appian in a research note on Friday, November 7th. They issued a “hold” rating and a $38.00 price objective for the company. Morgan Stanley upgraded shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research report on Monday, January 12th. Zacks Research downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Wall Street Zen lowered shares of Appian from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, TD Cowen reiterated a “hold” rating on shares of Appian in a research note on Thursday, November 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of APPN. Kestra Advisory Services LLC acquired a new stake in shares of Appian during the fourth quarter worth $34,000. Marshall Wace LLP lifted its stake in shares of Appian by 51.1% in the 4th quarter. Marshall Wace LLP now owns 673,252 shares of the company’s stock worth $23,847,000 after acquiring an additional 227,676 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Appian by 41.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 5,069 shares of the company’s stock valued at $180,000 after acquiring an additional 1,483 shares in the last quarter. Bridgewater Associates LP purchased a new position in Appian during the fourth quarter worth about $2,300,000. Finally, Stifel Financial Corp acquired a new stake in Appian in the fourth quarter valued at about $241,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Price Performance

NASDAQ APPN opened at $22.87 on Monday. The firm’s fifty day moving average price is $32.21 and its 200 day moving average price is $32.50. Appian has a 12 month low of $22.19 and a 12 month high of $46.06. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -228.68 and a beta of 0.90.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.