Appian (NASDAQ:APPN) Reaches New 1-Year Low – Here’s What Happened

Appian Corporation (NASDAQ:APPN) reached a new 52-week low on Friday . The stock traded as low as $23.88 and last traded at $24.7130, with a volume of 253899 shares trading hands. The stock had previously closed at $24.89.

Analysts Set New Price Targets

Several analysts have weighed in on APPN shares. DA Davidson began coverage on Appian in a report on Friday, November 7th. They issued a “hold” rating and a $38.00 target price on the stock. Barclays dropped their target price on shares of Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Appian in a report on Monday, December 29th. Morgan Stanley raised shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Monday, January 12th. Finally, Wall Street Zen lowered Appian from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.40.

Appian Stock Up 1.3%

The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -252.07 and a beta of 0.90. The firm has a fifty day moving average price of $33.82 and a 200-day moving average price of $32.73.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $174.11 million. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Equities research analysts anticipate that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Appian

Institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Appian in the second quarter worth about $3,992,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Appian by 47.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 374,764 shares of the company’s stock valued at $11,190,000 after buying an additional 119,852 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in Appian during the 2nd quarter worth approximately $3,135,000. Arrowstreet Capital Limited Partnership boosted its holdings in Appian by 211.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 690,788 shares of the company’s stock worth $20,627,000 after acquiring an additional 469,259 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Appian in the 2nd quarter worth approximately $874,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.