Wall Street Zen Downgrades Appian (NASDAQ:APPN) to Buy

Appian (NASDAQ:APPN) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Appian in a research report on Monday, December 29th. Morgan Stanley raised shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research note on Monday, January 12th. DA Davidson started coverage on shares of Appian in a report on Friday, November 7th. They set a “hold” rating and a $38.00 price target on the stock. TD Cowen reissued a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Finally, Zacks Research lowered Appian from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.40.

Appian Stock Up 1.3%

NASDAQ APPN traded up $0.38 during trading hours on Friday, hitting $29.71. 1,391,031 shares of the company were exchanged, compared to its average volume of 811,993. Appian has a 52 week low of $24.00 and a 52 week high of $46.06. The stock has a 50-day moving average price of $36.56 and a 200 day moving average price of $32.83. The stock has a market cap of $2.19 billion, a PE ratio of -297.07 and a beta of 0.82.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.27. The company had revenue of $187.00 million during the quarter, compared to the consensus estimate of $174.11 million. Appian’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, sell-side analysts anticipate that Appian will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Appian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APPN. EverSource Wealth Advisors LLC boosted its position in Appian by 282.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 599 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Appian by 693.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock valued at $30,000 after acquiring an additional 846 shares in the last quarter. Allworth Financial LP raised its stake in shares of Appian by 175.2% during the third quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Appian by 89.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock valued at $36,000 after purchasing an additional 564 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Appian by 191.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,615 shares of the company’s stock worth $57,000 after purchasing an additional 1,061 shares in the last quarter. Institutional investors own 52.70% of the company’s stock.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.