Appian Co. (NASDAQ:APPN) Receives $36.14 Consensus PT from Brokerages

Shares of Appian Co. (NASDAQ:APPN) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $36.29.

Several research firms have weighed in on APPN. Barclays upped their price target on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research note on Friday, May 9th. Scotiabank dropped their price target on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. DA Davidson upped their price target on Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Citigroup increased their target price on Appian from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley increased their target price on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th.

Insider Activity

In related news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 140,050 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $31.96, for a total value of $4,475,998.00. Following the sale, the insider now owns 9,615,066 shares in the company, valued at $307,297,509.36. The trade was a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 380,560 shares of company stock worth $11,124,633. 43.00% of the stock is currently owned by insiders.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in Appian during the 4th quarter valued at $35,000. Concord Wealth Partners increased its stake in Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock worth $74,000 after purchasing an additional 461 shares during the period. Canada Pension Plan Investment Board increased its stake in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the period. Headlands Technologies LLC increased its stake in Appian by 2,052.0% in the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock worth $122,000 after purchasing an additional 4,022 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after purchasing an additional 3,498 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Trading Down 1.8%

Shares of NASDAQ:APPN opened at $32.54 on Friday. The stock has a 50 day moving average of $29.56 and a 200 day moving average of $33.33. The company has a market cap of $2.41 billion, a PE ratio of -25.83 and a beta of 1.83. Appian has a 12-month low of $24.00 and a 12-month high of $43.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company had revenue of $166.43 million during the quarter, compared to the consensus estimate of $163.27 million. During the same period in the previous year, the company posted ($0.24) EPS. The firm’s revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Appian will post -0.28 earnings per share for the current fiscal year.

Appian Company Profile

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.