Brokerages Set Appian Co. (NASDAQ:APPN) Price Target at $40.17

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

APPN has been the subject of a number of research analyst reports. Scotiabank assumed coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective for the company. KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Barclays raised their price objective on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th.

Appian Price Performance

NASDAQ APPN opened at $30.44 on Friday. The business has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $34.20. The stock has a market capitalization of $2.25 billion, a PE ratio of -24.16 and a beta of 1.65. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. As a group, sell-side analysts expect that Appian will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the firm’s 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 completion of the transaction, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Appian

Several large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in Appian during the fourth quarter valued at $35,000. Canada Pension Plan Investment Board lifted its stake 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 period. Russell Investments Group Ltd. boosted its position in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after purchasing an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Appian during the fourth quarter worth approximately $181,000. Finally, FMR LLC increased its holdings in Appian by 199.4% in the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after purchasing an additional 3,953 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.