SunTrust Banks, Inc. Initiates Coverage on Appian Corporation (APPN)
SunTrust Banks, Inc. initiated coverage on shares of Appian Corporation (NASDAQ:APPN) in a report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $28.00 price target on the stock. SunTrust Banks, Inc.’s price target points to a potential upside of 42.20% from the company’s previous close.
Several other brokerages also recently weighed in on APPN. Cowen and Company downgraded Appian Corporation from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a report on Monday, October 2nd. Zacks Investment Research downgraded Appian Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Appian Corporation in a report on Monday, September 18th. Canaccord Genuity boosted their price target on Appian Corporation from $19.00 to $22.00 and gave the company a “hold” rating in a report on Monday, October 30th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price target (up from $19.00) on shares of Appian Corporation in a report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.00.
Shares of Appian Corporation (NASDAQ:APPN) traded down $0.33 during trading on Tuesday, hitting $19.69. The company had a trading volume of 354,800 shares, compared to its average volume of 249,173. Appian Corporation has a 1 year low of $14.60 and a 1 year high of $28.65.
A number of institutional investors have recently made changes to their positions in the stock. Abdiel Capital Advisors LP purchased a new position in Appian Corporation in the 2nd quarter valued at about $56,982,000. JPMorgan Chase & Co. boosted its position in Appian Corporation by 27.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock valued at $14,673,000 after buying an additional 127,545 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Appian Corporation in the 2nd quarter valued at about $8,134,000. Vanguard Group Inc. purchased a new position in Appian Corporation in the 2nd quarter valued at about $7,105,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Appian Corporation in the 2nd quarter valued at about $5,282,000. 11.56% of the stock is owned by hedge funds and other institutional investors.
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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