DA Davidson Reiterates Neutral Rating for Appian (NASDAQ:APPN)

DA Davidson reissued their neutral rating on shares of Appian (NASDAQ:APPN) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm currently has a $33.00 price objective on the stock, down from their previous price objective of $48.00.

A number of other analysts have also recently weighed in on APPN. Barclays decreased their price target on shares of Appian from $36.00 to $32.00 and set an underweight rating for the company in a research note on Friday, May 3rd. KeyCorp increased their price target on shares of Appian from $37.00 to $41.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Appian currently has an average rating of Hold and an average price target of $43.00.

Appian Trading Up 1.4 %

Shares of Appian stock opened at $29.84 on Tuesday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -20.30 and a beta of 1.47. The company has a fifty day simple moving average of $31.20 and a 200-day simple moving average of $33.72. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. Appian has a 12-month low of $26.28 and a 12-month high of $52.99.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). The business had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.42) EPS. On average, equities analysts forecast that Appian will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Appian news, Director Albert G.W. Biddle III acquired 3,225 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the transaction, the director now owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Appian news, Director Albert G.W. Biddle III acquired 3,225 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the transaction, the director now owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Advisors, Lp acquired 60,722 shares of the business’s stock in a transaction on Monday, July 8th. The stock was acquired at an average price of $31.34 per share, with a total value of $1,903,027.48. Following the transaction, the insider now directly owns 6,426,026 shares of the company’s stock, valued at approximately $201,391,654.84. The disclosure for this purchase can be found here. Insiders have acquired 1,381,568 shares of company stock valued at $46,783,802 over the last quarter. Company insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APPN. CANADA LIFE ASSURANCE Co lifted its stake in shares of Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after purchasing an additional 196,435 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Appian during the 1st quarter worth $1,708,000. Hawk Ridge Capital Management LP increased its holdings in shares of Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after buying an additional 236,230 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Appian by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock worth $176,602,000 after buying an additional 132,827 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new stake in shares of Appian during the 4th quarter worth $2,190,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.