Appian Corp (APPN) Receives $24.60 Consensus PT from Brokerages

Appian Corp (NASDAQ:APPN) has earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.60.

APPN has been the topic of several recent research reports. William Blair initiated coverage on Appian in a research report on Monday, November 27th. They set an “outperform” rating on the stock. Zacks Investment Research lowered Appian from a “buy” rating to a “sell” rating in a research report on Friday, December 22nd. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Barclays lowered Appian from an “equal weight” rating to an “underweight” rating and set a $26.00 price target on the stock. in a research report on Monday, January 8th. Finally, SunTrust Banks lowered Appian from a “buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a research report on Monday, January 8th.

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Shares of APPN stock traded up $0.15 during midday trading on Wednesday, hitting $26.41. The company had a trading volume of 412,888 shares, compared to its average volume of 518,556. Appian has a 52 week low of $14.60 and a 52 week high of $43.26.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.10. The firm had revenue of $50.60 million for the quarter, compared to analysts’ expectations of $41.78 million. Appian’s revenue for the quarter was up 50.1% on a year-over-year basis. research analysts anticipate that Appian will post -0.74 earnings per share for the current year.

In other news, Director Bobbie G. Kilberg sold 21,220 shares of Appian stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $28.01, for a total value of $594,372.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Abdiel Capital Management, Llc acquired 92,093 shares of the business’s stock in a transaction dated Thursday, March 22nd. The stock was acquired at an average price of $26.33 per share, for a total transaction of $2,424,808.69. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 189,802 shares of company stock worth $4,983,830.

Several hedge funds have recently modified their holdings of APPN. Vanguard Group Inc. bought a new stake in shares of Appian in the 2nd quarter worth approximately $7,105,000. New York State Common Retirement Fund bought a new stake in shares of Appian in the 3rd quarter worth approximately $205,000. JPMorgan Chase & Co. grew its position in shares of Appian by 27.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock worth $14,673,000 after buying an additional 127,545 shares during the last quarter. Nepsis Capital Management Inc. bought a new stake in shares of Appian in the 4th quarter worth approximately $4,306,000. Finally, Gilder Gagnon Howe & Co. LLC grew its position in shares of Appian by 25.0% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 307,117 shares of the company’s stock worth $9,668,000 after buying an additional 61,344 shares during the last quarter. Hedge funds and other institutional investors own 15.68% of the company’s stock.

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Appian Company Profile

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

Analyst Recommendations for Appian (NASDAQ:APPN)

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