Appian Co. (NASDAQ:APPN) Receives Average Recommendation of “Hold” from Analysts

Appian Co. (NASDAQ:APPN) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $36.80.

Several analysts have commented on APPN shares. KeyCorp reissued a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Scotiabank started coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective for the company. Finally, DA Davidson cut their target price on Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday.

Insiders Place Their Bets

In related news, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction 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 directly owns 29,348 shares in the company, valued at $974,647.08. This represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the completion of the sale, the insider now directly owns 9,942,140 shares of the company’s stock, valued at approximately $263,367,288.60. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,407 shares of company stock valued at $5,616,122 in the last quarter. Insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after purchasing an additional 3,953 shares during the period. Barclays PLC boosted its stake in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after buying an additional 53,172 shares in the last quarter. Geode Capital Management LLC increased its holdings in Appian by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock valued at $32,695,000 after buying an additional 5,772 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Appian by 18.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock valued at $1,081,000 after buying an additional 4,813 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Appian during the 4th quarter worth about $208,000. 52.70% of the stock is currently owned by institutional investors.

Appian Trading Up 0.5 %

Shares of NASDAQ:APPN opened at $27.15 on Tuesday. The business has a fifty day simple moving average of $30.73 and a 200 day simple moving average of $33.68. Appian has a 1 year low of $24.00 and a 1 year high of $43.33. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -21.55 and a beta of 1.78.

Appian (NASDAQ:APPN) last announced its quarterly earnings results 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 net margin of 14.95% and a negative return on equity of 532.05%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, sell-side analysts forecast that Appian will post -0.28 EPS for the current year.

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.