Appian Corporation (NASDAQ:APPN)‘s stock had its “equal weight” rating reissued by equities researchers at Barclays PLC in a research report issued to clients and investors on Friday. They currently have a $20.00 price target on the stock, up from their previous price target of $19.00. Barclays PLC’s price objective points to a potential downside of 10.31% from the company’s current price.

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

Shares of Appian Corporation (NASDAQ APPN) traded up 1.70% during trading on Friday, hitting $22.68. 64,889 shares of the company’s stock were exchanged. Appian Corporation has a 12-month low of $10.04 and a 12-month high of $22.88. The company has a 50-day moving average of $18.75 and a 200-day moving average of $18.65. The company’s market cap is $777.33 million.

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In other news, major shareholder Qualified Master Fund L. Abdiel acquired 227,529 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average price of $18.51 per share, with a total value of $4,211,561.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 22,438 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $19.50 per share, with a total value of $437,541.00. The disclosure for this purchase can be found here. Insiders bought 2,281,562 shares of company stock valued at $42,231,262 over the last quarter.

Large investors have recently made changes to their positions in the stock. Spark Investment Management LLC purchased a new stake in shares of Appian Corporation during the second quarter worth about $2,355,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Appian Corporation during the second quarter worth about $5,282,000. LMR Partners LLP purchased a new stake in shares of Appian Corporation during the second quarter worth about $201,000. Neuberger Berman Group LLC purchased a new stake in shares of Appian Corporation during the second quarter worth about $292,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Appian Corporation during the second quarter worth about $2,716,000. 6.74% of the stock is owned by hedge funds and other institutional investors.

About Appian Corporation

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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