Appian Corporation (NASDAQ:APPN) Given Consensus Recommendation of “Hold” by Analysts

Appian Corporation (NASDAQ:APPN) has received an average rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. 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 on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $36.29.

A number of equities analysts have recently commented on the stock. DA Davidson raised shares of Appian to a “hold” rating in a research note on Monday, June 9th. Barclays raised their target price on shares of Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. Citigroup lifted their price target on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Finally, Scotiabank decreased their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th.

Appian Stock Up 2.2%

Shares of APPN opened at $29.00 on Friday. The firm has a market cap of $2.15 billion, a PE ratio of -34.94 and a beta of 1.75. The company’s fifty day moving average is $30.76 and its two-hundred day moving average is $31.68. Appian has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $166.43 million during the quarter, compared to analyst estimates of $163.27 million. During the same quarter last year, the business earned ($0.24) EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Appian will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the transaction, the insider now directly owns 9,942,140 shares of the company’s stock, valued at approximately $263,367,288.60. The trade was a 0.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 2,258,145 shares of company stock valued at $71,160,372 in the last ninety days. Corporate insiders own 43.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC boosted its holdings in shares of Appian by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company’s stock valued at $958,000 after buying an additional 368 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after purchasing an additional 400 shares during the period. Concord Wealth Partners boosted its stake in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after purchasing an additional 461 shares during the period. Canada Pension Plan Investment Board boosted its stake in Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in Appian by 6.3% during the 1st quarter. Penserra Capital Management LLC now owns 16,646 shares of the company’s stock valued at $479,000 after purchasing an additional 989 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

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.