Shares of Appian Corporation (NASDAQ:APPN) have received an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $18.50.

Several equities analysts recently commented on the stock. Barclays PLC upped their target price on shares of Appian Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday. Canaccord Genuity upped their target price on shares of Appian Corporation from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Friday. Pacific Crest assumed coverage on shares of Appian Corporation in a research note on Monday, June 19th. They set a “sector weight” rating for the company. Morgan Stanley assumed coverage on shares of Appian Corporation in a research note on Monday, June 19th. They set an “equal weight” rating and a $18.00 target price for the company. Finally, Cowen and Company assumed coverage on shares of Appian Corporation in a research note on Monday, June 19th. They set an “outperform” rating for the company.

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In other Appian Corporation news, major shareholder Qualified Master Fund L. Abdiel purchased 227,529 shares of the stock in a transaction on Monday, June 5th. The shares were 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 legal filing with the SEC, which is available through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel purchased 205,360 shares of the stock in a transaction on Thursday, June 8th. The stock was acquired at an average cost of $19.66 per share, for a total transaction of $4,037,377.60. The disclosure for this purchase can be found here. Insiders acquired a total of 2,281,562 shares of company stock worth $42,231,262 in the last three months.

A number of large investors have recently made changes to their positions in APPN. LMR Partners LLP acquired a new stake in shares of Appian Corporation during the second quarter valued at about $201,000. Neuberger Berman Group LLC acquired a new stake in shares of Appian Corporation during the second quarter valued at about $292,000. Spark Investment Management LLC acquired a new stake in shares of Appian Corporation during the second quarter valued at about $2,355,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Appian Corporation during the second quarter valued at about $5,282,000. 6.74% of the stock is currently owned by hedge funds and other institutional investors.

Appian Corporation (NASDAQ:APPN) traded down 0.0974% during midday trading on Tuesday, reaching $22.1484. 116,521 shares of the company were exchanged. The firm’s 50-day moving average is $18.61 and its 200-day moving average is $18.56. The firm’s market cap is $759.11 million. Appian Corporation has a one year low of $14.60 and a one year high of $22.67.

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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