Appian (NASDAQ:APPN) Sets New 12-Month Low at $28.35

Appian Co. (NASDAQ:APPN)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $28.35 and last traded at $29.06, with a volume of 459224 shares changing hands. The stock had previously closed at $36.73.

Analysts Set New Price Targets

APPN has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Barclays reduced their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Friday. DA Davidson reduced their price target on shares of Appian from $55.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. KeyCorp reduced their price target on shares of Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a report on Friday. Finally, Citigroup boosted their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.43.

Appian Stock Performance

The company has a market cap of $2.35 billion, a PE ratio of -20.90 and a beta of 1.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The firm’s 50-day simple moving average is $36.71 and its two-hundred day simple moving average is $36.58.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. The company had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. As a group, research analysts anticipate that Appian Co. will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the sale, the insider now directly owns 5,890,304 shares of the company’s stock, valued at approximately $191,081,461.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 43.60% of the company’s stock.

Institutional Trading of Appian

A number of hedge funds have recently added to or reduced their stakes in APPN. Headlands Technologies LLC acquired a new position in Appian during the fourth quarter worth $47,000. Concord Wealth Partners acquired a new position in Appian during the first quarter worth $85,000. Quest Partners LLC acquired a new position in Appian during the fourth quarter worth $177,000. Victory Capital Management Inc. raised its position in shares of Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after buying an additional 1,027 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Appian in the fourth quarter valued at about $210,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.