Appian Corporation (NASDAQ:APPN – Get Free Report) has received an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.50.
A number of analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Morgan Stanley upped their target price on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. DA Davidson raised Appian to a “hold” rating in a report on Tuesday, July 22nd. Scotiabank lowered their price objective on Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Finally, Barclays upped their price objective on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research note on Friday, May 9th.
Read Our Latest Stock Analysis on Appian
Insider Activity at Appian
Hedge Funds Weigh In On Appian
Several institutional investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its position in Appian by 40.0% during the second quarter. KLP Kapitalforvaltning AS now owns 7,700 shares of the company’s stock valued at $230,000 after purchasing an additional 2,200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Appian by 7.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,386 shares of the company’s stock valued at $221,000 after acquiring an additional 507 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Appian by 4.4% in the 1st quarter. Rhumbline Advisers now owns 60,088 shares of the company’s stock valued at $1,731,000 after acquiring an additional 2,528 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Appian in the first quarter worth about $2,300,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Appian by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,080 shares of the company’s stock worth $2,595,000 after acquiring an additional 2,244 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.
Appian Stock Performance
NASDAQ:APPN opened at $30.66 on Thursday. The stock has a 50-day simple moving average of $30.26 and a two-hundred day simple moving average of $30.93. The firm has a market capitalization of $2.28 billion, a PE ratio of -36.94 and a beta of 1.72. Appian has a 52-week low of $24.00 and a 52-week high of $43.33.
Appian (NASDAQ:APPN – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $166.43 million for the quarter, compared to analysts’ expectations of $163.27 million. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) earnings per share. Equities analysts forecast that Appian will post -0.28 earnings per share for the current fiscal year.
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.
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