Appian (NASDAQ:APPN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Appian (NASDAQ:APPN) from a buy rating to a strong-buy rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently issued reports on APPN. Citigroup raised their price target on shares of Appian from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 7th. DA Davidson boosted their price objective on shares of Appian from $34.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Morgan Stanley upped their target price on Appian from $25.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Appian from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. Finally, Zacks Research raised Appian from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Appian currently has an average rating of “Hold” and a consensus target price of $31.00.

Appian Stock Up 10.2%

NASDAQ:APPN opened at $38.31 on Friday. Appian has a 52 week low of $18.63 and a 52 week high of $46.06. The firm has a 50 day moving average of $32.30 and a 200 day moving average of $26.42. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -255.38 and a beta of 0.94.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.13 EPS for the quarter. Appian had a negative return on equity of 35.20% and a negative net margin of 1.34%.The firm had revenue of $203.26 million during the quarter, compared to analyst estimates of $193.38 million. The company’s quarterly revenue was up 19.1% on a year-over-year basis. Appian has set its FY 2026 guidance at 1.040-1.120 EPS and its Q3 2026 guidance at 0.310-0.350 EPS. As a group, analysts expect that Appian will post 0.45 EPS for the current year.

Insider Activity

In related news, CEO Matthew Calkins sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $24.72, for a total transaction of $1,236,000.00. Following the sale, the chief executive officer directly owned 1,719,144 shares of the company’s stock, valued at $42,497,239.68. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 42.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Appian

Several institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Appian in the second quarter worth about $63,000. IFP Advisors Inc increased its stake in shares of Appian by 35.5% in the 2nd quarter. IFP Advisors Inc now owns 1,108 shares of the company’s stock valued at $25,000 after purchasing an additional 290 shares in the last quarter. Allworth Financial LP increased its stake in shares of Appian by 15.0% in the 2nd quarter. Allworth Financial LP now owns 2,678 shares of the company’s stock valued at $61,000 after purchasing an additional 350 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Appian in the 2nd quarter worth about $1,407,000. Finally, California State Teachers Retirement System raised its holdings in Appian by 2,204.5% in the 2nd quarter. California State Teachers Retirement System now owns 838,071 shares of the company’s stock worth $19,192,000 after purchasing an additional 801,704 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Company Profile

Appian Corporation develops enterprise software designed to help organizations build applications and automate business processes. Its low-code platform enables users to design, deploy and manage applications with limited traditional programming, supporting workflow automation, process orchestration, case management and business process improvement.

The Appian Platform combines application development tools with data management, artificial intelligence, robotic process automation and process-mining capabilities.