Appian Co. (NASDAQ:APPN) Receives $39.20 Average PT from Analysts

Appian Co. (NASDAQ:APPN) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $39.20.

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, August 5th. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. DA Davidson cut Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group dropped their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd.

Appian Stock Performance

Shares of APPN stock opened at $30.04 on Monday. The stock’s 50-day moving average is $32.15 and its two-hundred day moving average is $33.16. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24. Appian has a 1 year low of $26.28 and a 1 year high of $52.99. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -20.44 and a beta of 1.56.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. The company had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) earnings per share. Analysts predict that Appian will post -1.07 earnings per share for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $37.76 per share, with a total value of $5,664,000.00. Following the acquisition, the insider now directly owns 7,805,847 shares of the company’s stock, valued at $294,748,782.72. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have acquired 2,301,512 shares of company stock worth $73,987,795. Company insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently made changes to their positions in APPN. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Appian by 107.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,670 shares of the company’s stock valued at $327,000 after buying an additional 4,490 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Appian by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares during the last quarter. Summit Global Investments purchased a new stake in Appian during the fourth quarter worth $310,000. Charles Schwab Investment Management Inc. grew its holdings in Appian by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,288 shares of the company’s stock valued at $12,250,000 after purchasing an additional 5,538 shares during the last quarter. Finally, Roubaix Capital LLC purchased a new position in shares of Appian in the fourth quarter valued at $2,190,000. Institutional investors and hedge funds 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.