Appian (NASDAQ:APPN) Price Target Raised to $33.00 at Barclays

Appian (NASDAQ:APPN) had its target price boosted by Barclays from $28.00 to $33.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

APPN has been the subject of a number of other research reports. KeyCorp reissued a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Citigroup cut their price objective on Appian from $53.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. DA Davidson lowered their target price on Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley cut their price target on Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Scotiabank lowered their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.14.

Appian Stock Performance

APPN opened at $31.69 on Friday. The company has a market cap of $2.35 billion, a PE ratio of -25.15 and a beta of 1.83. The stock has a 50-day moving average of $29.40 and a 200-day moving average of $33.32. Appian has a 52-week low of $24.00 and a 52-week high of $43.33.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts predict that Appian will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the transaction, the director now directly owns 29,348 shares of the company’s stock, valued at approximately $974,647.08. This represents a 3.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the sale, the insider now owns 9,942,140 shares in the company, valued at $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 240,510 shares of company stock valued at $6,648,635 over the last ninety days. 43.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Appian

Several large investors have recently made changes to their positions in APPN. Headlands Technologies LLC boosted its position in Appian by 2,052.0% in the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock valued at $122,000 after buying an additional 4,022 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Appian by 144.6% in the first quarter. Deutsche Bank AG now owns 84,975 shares of the company’s stock valued at $2,448,000 after acquiring an additional 50,240 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in Appian by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company’s stock worth $958,000 after purchasing an additional 368 shares in the last quarter. US Bancorp DE raised its holdings in shares of Appian by 215.4% in the first quarter. US Bancorp DE now owns 6,506 shares of the company’s stock valued at $187,000 after buying an additional 4,443 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Appian by 76.3% in the 1st quarter. XTX Topco Ltd now owns 20,994 shares of the company’s stock valued at $605,000 after acquiring an additional 9,085 shares in the last quarter. Institutional investors own 52.70% of the company’s stock.

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.