Appian (NASDAQ:APPN) Given New $28.00 Price Target at Barclays

Appian (NASDAQ:APPN) had its price target lowered by analysts at Barclays from $37.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 5.42% from the company’s previous close.

A number of other research analysts have also recently commented on APPN. KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank began coverage on Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target on the stock. Morgan Stanley cut their price objective on Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, DA Davidson decreased their target price on shares of Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Appian currently has an average rating of “Hold” and a consensus target price of $33.67.

Appian Stock Down 1.3 %

Shares of APPN opened at $26.56 on Monday. Appian has a 52-week low of $24.00 and a 52-week high of $43.33. The stock has a fifty day simple moving average of $30.20 and a two-hundred day simple moving average of $33.49. The company has a market capitalization of $1.97 billion, a PE ratio of -21.08 and a beta of 1.78.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 earnings per share. As a group, equities analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the transaction, the insider now owns 9,942,140 shares of the company’s stock, valued at $263,367,288.60. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the sale, the director now directly owns 29,348 shares in the company, valued at $974,647.08. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 240,510 shares of company stock worth $6,648,635 in the last three months. 44.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Appian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its stake in shares of Appian by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock worth $270,000 after buying an additional 400 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Appian in the 4th quarter valued at $35,000. Handelsbanken Fonder AB grew its stake in shares of Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock worth $284,000 after purchasing an additional 1,100 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Appian by 8.0% in the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company’s stock valued at $802,000 after buying an additional 1,809 shares in the last quarter. Hedge funds and other institutional investors 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.