Barclays Trims Appian (NASDAQ:APPN) Target Price to $32.00

Appian (NASDAQ:APPN) had its price target cut by Barclays from $36.00 to $32.00 in a research report report published on Friday morning, Benzinga reports. They currently have an underweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. 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. William Blair reaffirmed an outperform rating on shares of Appian in a research note on Wednesday, March 20th. KeyCorp lifted their price target on Appian from $45.00 to $50.00 and gave the company an overweight rating in a research note on Friday, February 16th. Finally, Citigroup upped their price objective on Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Appian has an average rating of Moderate Buy and a consensus target price of $46.43.

Appian Stock Up 3.1 %

Appian stock opened at $31.98 on Friday. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -21.75 and a beta of 1.46. The company’s 50 day simple moving average is $36.71 and its 200 day simple moving average is $36.41. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. Appian has a fifty-two week low of $28.22 and a fifty-two week high of $54.26.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). Appian had a negative return on equity of 146.23% and a negative net margin of 19.20%. The firm had revenue of $149.80 million for the quarter, compared to the consensus estimate of $149.78 million. During the same period in the prior year, the business earned ($0.42) earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Appian will post -0.9 EPS for the current year.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the completion of the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Appian

A number of institutional investors have recently added to or reduced their stakes in APPN. Headlands Technologies LLC acquired a new position in shares of Appian during the 4th quarter worth about $47,000. Concord Wealth Partners acquired a new position in Appian during the first quarter worth approximately $85,000. Quest Partners LLC bought a new stake in Appian in the fourth quarter valued at approximately $177,000. Victory Capital Management Inc. lifted 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 approximately $210,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.