Several other equities research analysts have also recently weighed in on APPN. Barclays set a $41.00 target price on Appian and gave the stock a hold rating in a research note on Friday, August 9th. Zacks Investment Research upgraded Appian from a sell rating to a hold rating in a research note on Wednesday, July 3rd. ValuEngine cut Appian from a buy rating to a hold rating in a research note on Friday, September 20th. Finally, SunTrust Banks boosted their target price on Appian from $32.00 to $46.00 and gave the stock a hold rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $36.87.
APPN stock traded down $0.54 during trading on Wednesday, hitting $44.65. 420,844 shares of the company’s stock were exchanged, compared to its average volume of 554,919. The business has a 50-day moving average price of $50.66 and a two-hundred day moving average price of $41.20. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -55.81 and a beta of 1.02. Appian has a 52-week low of $22.61 and a 52-week high of $62.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.04.
Appian (NASDAQ:APPN) last posted its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07. The firm had revenue of $66.90 million during the quarter, compared to analysts’ expectations of $63.44 million. Appian had a negative return on equity of 80.44% and a negative net margin of 23.12%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) earnings per share. On average, equities research analysts anticipate that Appian will post -0.76 earnings per share for the current fiscal year.
In other Appian news, VP David Leon Mitchell sold 750 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $61.00, for a total value of $45,750.00. Following the completion of the sale, the vice president now owns 10,705 shares in the company, valued at $653,005. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert Charles Kramer sold 48,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.76, for a total value of $1,956,480.00. Following the completion of the sale, the insider now owns 66,363 shares of the company’s stock, valued at approximately $2,704,955.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 645,984 shares of company stock valued at $34,553,920. 50.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of APPN. BlackRock Inc. lifted its stake in Appian by 275.1% in the second quarter. BlackRock Inc. now owns 2,048,737 shares of the company’s stock valued at $73,898,000 after buying an additional 1,502,545 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Appian by 1,397.0% in the second quarter. First Trust Advisors LP now owns 1,089,865 shares of the company’s stock valued at $39,311,000 after purchasing an additional 1,017,061 shares during the period. Granite Investment Partners LLC acquired a new position in shares of Appian in the second quarter valued at approximately $13,856,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Appian in the second quarter valued at approximately $9,874,000. Finally, Vanguard Group Inc. increased its holdings in shares of Appian by 12.5% in the second quarter. Vanguard Group Inc. now owns 2,219,612 shares of the company’s stock valued at $80,062,000 after purchasing an additional 246,269 shares during the period. Institutional investors own 35.96% of the company’s stock.
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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