Appian Corporation (NASDAQ:APPN) Receives Average Rating of “Hold” from Analysts

Appian Corporation (NASDAQ:APPN) has been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $38.40.

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. TD Cowen reissued a “hold” rating on shares of Appian in a research report on Thursday, November 6th. Wall Street Zen downgraded Appian from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Morgan Stanley upgraded Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Monday, January 12th. Finally, Barclays lowered their price objective on shares of Appian from $37.00 to $34.00 and set an “underweight” rating on the stock in a research note on Monday, January 12th.

Appian Stock Up 1.3%

Shares of Appian stock opened at $25.21 on Monday. Appian has a 12-month low of $23.88 and a 12-month high of $46.06. The stock has a 50 day moving average price of $33.82 and a two-hundred day moving average price of $32.74. The stock has a market capitalization of $1.86 billion, a P/E ratio of -252.07 and a beta of 0.90.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.27. The firm had revenue of $187.00 million during the quarter, compared to analyst estimates of $174.11 million. Appian’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Sell-side analysts anticipate that Appian will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in APPN. Wolf Hill Capital Management LP increased its stake in Appian by 298.1% in the third quarter. Wolf Hill Capital Management LP now owns 995,210 shares of the company’s stock valued at $30,424,000 after acquiring an additional 745,210 shares during the period. Vanguard Group Inc. lifted its position in shares of Appian by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,935,948 shares of the company’s stock worth $181,462,000 after buying an additional 681,643 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Appian by 86.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,291,124 shares of the company’s stock valued at $39,470,000 after buying an additional 600,336 shares in the last quarter. Bank of America Corp DE grew its position in Appian by 182.7% in the second quarter. Bank of America Corp DE now owns 237,421 shares of the company’s stock valued at $7,089,000 after acquiring an additional 524,420 shares during the period. Finally, Caption Management LLC lifted its holdings in shares of Appian by 127.3% during the second quarter. Caption Management LLC now owns 80,472 shares of the company’s stock valued at $2,403,000 after acquiring an additional 375,758 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

About Appian

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.