Appian (NASDAQ:APPN) Given New $33.00 Price Target at Barclays

Appian (NASDAQ:APPN) had its target price boosted by Barclays from $28.00 to $33.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price points to a potential upside of 4.13% from the stock’s current price.

Several other equities research analysts have also commented on APPN. Citigroup reduced their price target on shares of Appian from $53.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Scotiabank dropped their price target on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. KeyCorp restated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Morgan Stanley lowered their target price on Appian from $35.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, DA Davidson reduced their price target on Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.14.

Appian Stock Down 1.1 %

APPN opened at $31.69 on Friday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -25.15 and a beta of 1.83. The firm has a 50 day moving average price of $29.40 and a 200-day moving average price of $33.34. Appian has a twelve month low of $24.00 and a twelve month high of $43.33.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, analysts expect that Appian will post -0.28 earnings per share for the current year.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the completion of the transaction, the insider now owns 10,121,563 shares in the company, valued at $298,788,539.76. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the sale, the director now directly owns 29,348 shares in the company, valued at $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,510 shares of company stock valued at $6,648,635. 43.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Appian

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC increased its holdings in shares of Appian by 2,052.0% in the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock worth $122,000 after buying an additional 4,022 shares during the last quarter. Deutsche Bank AG increased its stake in Appian by 144.6% during the first quarter. Deutsche Bank AG now owns 84,975 shares of the company’s stock worth $2,448,000 after acquiring an additional 50,240 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Appian by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company’s stock valued at $958,000 after purchasing an additional 368 shares during the period. US Bancorp DE raised its position in Appian by 215.4% during the first quarter. US Bancorp DE now owns 6,506 shares of the company’s stock valued at $187,000 after purchasing an additional 4,443 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Appian by 76.3% in the 1st quarter. XTX Topco Ltd now owns 20,994 shares of the company’s stock worth $605,000 after purchasing an additional 9,085 shares during the period. Institutional investors own 52.70% of the company’s stock.

About Appian

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.