Appian Co. (NASDAQ:APPN) Receives $40.17 Average Price Target from Brokerages

Appian Co. (NASDAQ:APPN) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $40.17.

A number of equities analysts have recently commented on the company. Scotiabank started coverage on Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Barclays lifted their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th.

Appian Stock Up 0.2 %

Appian stock opened at $32.47 on Monday. Appian has a 52-week low of $26.28 and a 52-week high of $43.33. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -25.77 and a beta of 1.64. The firm’s fifty day moving average is $33.83 and its 200 day moving average is $34.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. During the same period in the previous year, the business posted $0.06 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the transaction, the director now directly owns 29,348 shares in the company, valued at $974,647.08. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares of the company’s stock, valued at $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

A number of hedge funds and other institutional investors have recently modified their holdings of APPN. Allspring Global Investments Holdings LLC bought a new stake in Appian during the 3rd quarter valued at $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of Appian during the 4th quarter worth $35,000. Canada Pension Plan Investment Board boosted its position in Appian by 27.8% during the fourth 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 in the last quarter. Russell Investments Group Ltd. lifted its position in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after acquiring an additional 3,498 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Appian during the 4th quarter valued at $181,000. 52.70% of the stock is currently owned by institutional investors.

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.