Brokerages Set Appian Corp (APPN) PT at $26.20

Appian Corp (NASDAQ:APPN) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $26.20.

A number of research firms have commented on APPN. BidaskClub raised shares of Appian from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Barclays boosted their price target on shares of Appian from $28.00 to $29.00 and gave the company an “underweight” rating in a report on Friday, September 7th. Finally, Zacks Investment Research lowered shares of Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd.

APPN traded down $0.01 during trading on Monday, reaching $30.05. 426,744 shares of the company’s stock were exchanged, compared to its average volume of 506,992. Appian has a fifty-two week low of $19.62 and a fifty-two week high of $43.61. The firm has a market capitalization of $1.91 billion, a PE ratio of -49.26 and a beta of 1.88.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, November 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The firm had revenue of $54.95 million during the quarter, compared to analyst estimates of $49.73 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities analysts forecast that Appian will post -0.77 earnings per share for the current fiscal year.

In other news, VP Edward L. Hughes sold 20,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $30.65, for a total value of $613,000.00. Following the completion of the transaction, the vice president now owns 132,359 shares of the company’s stock, valued at approximately $4,056,803.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Management, Llc purchased 80,883 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was purchased at an average cost of $28.64 per share, with a total value of $2,316,489.12. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,265,849 shares of company stock valued at $33,111,919 and sold 82,645 shares valued at $2,342,314. 64.00% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in APPN. Steward Partners Investment Advisory LLC acquired a new position in shares of Appian in the 3rd quarter valued at $166,000. UBS Group AG lifted its position in Appian by 240.8% in the 1st quarter. UBS Group AG now owns 6,717 shares of the company’s stock valued at $169,000 after acquiring an additional 4,746 shares in the last quarter. California Public Employees Retirement System bought a new stake in Appian in the 2nd quarter valued at $207,000. Point72 Asset Management L.P. bought a new stake in Appian in the 2nd quarter valued at $264,000. Finally, Tocqueville Asset Management L.P. bought a new stake in Appian in the 2nd quarter valued at $273,000. 22.20% of the stock is owned by institutional investors.

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.

See Also: Initial Public Offering (IPO)

Analyst Recommendations for Appian (NASDAQ:APPN)

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