Appian Corporation (NASDAQ:APPN) had its target price boosted by equities researchers at Canaccord Genuity from $18.00 to $19.00 in a report released on Friday. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity’s price objective points to a potential downside of 3.60% from the company’s previous close.

A number of other brokerages have also recently issued reports on APPN. Cowen and Company assumed coverage on Appian Corporation in a report on Monday, June 19th. They set an “outperform” rating for the company. Pacific Crest assumed coverage on Appian Corporation in a report on Monday, June 19th. They set a “sector weight” rating for the company. Morgan Stanley assumed coverage on Appian Corporation in a report on Monday, June 19th. They set an “equal weight” rating and a $18.00 target price for the company. Goldman Sachs Group, Inc. (The) assumed coverage on Appian Corporation in a report on Monday, June 19th. They set a “neutral” rating and a $17.00 target price for the company. Finally, Barclays PLC assumed coverage on Appian Corporation in a report on Monday, June 19th. They set an “equal weight” rating and a $19.00 target price for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $18.50.

Appian Corporation (NASDAQ:APPN) traded down 5.42% on Friday, reaching $19.71. 418,620 shares of the company’s stock were exchanged. Appian Corporation has a 1-year low of $14.60 and a 1-year high of $21.49. The company has a 50 day moving average price of $18.61 and a 200-day moving average price of $18.56. The company’s market capitalization is $141.87 million.

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In related news, major shareholder Qualified Master Fund L. Abdiel purchased 127,217 shares of Appian Corporation stock in a transaction that occurred on Thursday, July 6th. The shares were purchased at an average cost of $17.57 per share, with a total value of $2,235,202.69. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Qualified Master Fund L. Abdiel purchased 22,438 shares of Appian Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average cost of $19.50 per share, for a total transaction of $437,541.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,281,562 shares of company stock worth $42,231,262 over the last three months.

A number of institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP bought a new position in Appian Corporation during the second quarter valued at approximately $201,000. Gilder Gagnon Howe & Co. LLC bought a new position in Appian Corporation during the second quarter valued at approximately $5,282,000. Finally, Spark Investment Management LLC bought a new position in Appian Corporation during the second quarter valued at approximately $2,355,000.

Appian Corporation Company Profile

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

Analyst Recommendations for Appian Corporation (NASDAQ:APPN)

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