Shares of Appian Corp (NASDAQ:APPN) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.20.
Several brokerages have recently weighed in on APPN. BidaskClub raised Appian from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Canaccord Genuity increased their price objective on Appian from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. Barclays increased their price objective on Appian from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded Appian from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Morgan Stanley increased their price objective on Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, August 3rd.
In related news, major shareholder Abdiel Capital Management, Llc bought 54,043 shares of the business’s stock in a transaction on Friday, October 19th. The stock was acquired at an average cost of $23.68 per share, with a total value of $1,279,738.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Edward L. Hughes sold 20,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $30.65, for a total value of $613,000.00. Following the completion of the sale, the vice president now directly owns 132,359 shares of the company’s stock, valued at $4,056,803.35. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,080,167 shares of company stock valued at $28,442,017 and sold 283,500 shares valued at $9,515,435. 64.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG increased its stake in shares of Appian by 240.8% in the 1st quarter. UBS Group AG now owns 6,717 shares of the company’s stock worth $169,000 after acquiring an additional 4,746 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Appian in the 3rd quarter worth $166,000. Commonwealth Equity Services LLC increased its stake in shares of Appian by 32.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 20,270 shares of the company’s stock worth $670,000 after acquiring an additional 5,005 shares during the last quarter. California Public Employees Retirement System acquired a new stake in shares of Appian in the 2nd quarter worth $207,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Appian in the 2nd quarter worth $264,000. 17.43% of the stock is owned by institutional investors and hedge funds.
Shares of APPN stock traded up $0.59 during trading hours on Thursday, hitting $27.75. 7,233 shares of the company’s stock were exchanged, compared to its average volume of 636,591. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -44.84 and a beta of 1.81. Appian has a fifty-two week low of $19.62 and a fifty-two week high of $43.61.
Appian (NASDAQ:APPN) last announced its earnings results on Thursday, November 1st. The company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The business had revenue of $54.95 million during the quarter, compared to the consensus estimate of $49.73 million. Appian had a negative return on equity of 109.53% and a negative net margin of 19.54%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS. On average, research analysts forecast that Appian will post -0.75 EPS for the current year.
Appian Company Profile
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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