Appian Corporation (APPN) Price Target Raised to $22.00
Appian Corporation (NASDAQ:APPN) had its price target lifted by equities researchers at Canaccord Genuity from $19.00 to $22.00 in a research report issued on Monday. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity’s price target indicates a potential downside of 2.91% from the company’s current price.
Other analysts also recently issued research reports about the company. KeyCorp reiterated a “hold” rating on shares of Appian Corporation in a research note on Monday, September 18th. Barclays PLC reiterated an “equal weight” rating and set a $20.00 price target (up previously from $19.00) on shares of Appian Corporation in a research note on Friday, August 4th. Zacks Investment Research upgraded Appian Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, September 13th. Finally, Cowen and Company downgraded Appian Corporation from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a research note on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating, Appian Corporation presently has a consensus rating of “Hold” and a consensus price target of $21.33.
Shares of Appian Corporation (NASDAQ:APPN) traded down $0.25 during trading hours on Monday, reaching $22.66. 292,914 shares of the company were exchanged, compared to its average volume of 118,761.
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In related news, major shareholder Qualified Master Fund L. Abdiel bought 65,533 shares of the stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average price of $22.23 per share, for a total transaction of $1,456,798.59. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel bought 28,800 shares of the stock in a transaction dated Tuesday, September 26th. The stock was bought at an average price of $22.14 per share, for a total transaction of $637,632.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 146,376 shares of company stock worth $3,249,007.
Several institutional investors and hedge funds have recently modified their holdings of the company. Abdiel Capital Advisors LP purchased a new stake in shares of Appian Corporation in the second quarter worth about $56,982,000. JPMorgan Chase & Co. purchased a new stake in shares of Appian Corporation in the second quarter worth about $8,303,000. Lord Abbett & CO. LLC purchased a new stake in shares of Appian Corporation in the second quarter worth about $8,134,000. Vanguard Group Inc. purchased a new stake in shares of Appian Corporation in the second quarter worth about $7,105,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Appian Corporation in the second quarter worth about $5,282,000. Hedge funds and other institutional investors own 11.61% of the company’s stock.
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.
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