Appian Corp (APPN) Receives Consensus Rating of “Hold” from Analysts

Appian Corp (NASDAQ:APPN) has been given a consensus recommendation of “Hold” by the nine research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $28.50.

Several research firms recently commented on APPN. BidaskClub cut shares of Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Barclays raised shares of Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price objective on the stock in a research report on Monday, October 15th. Finally, Zacks Investment Research cut shares of Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd.

APPN traded up $0.62 during trading on Tuesday, hitting $31.78. The company had a trading volume of 435,200 shares, compared to its average volume of 484,993. The stock has a market capitalization of $1.98 billion, a P/E ratio of -52.10 and a beta of 1.75. Appian has a one year low of $22.61 and a one year high of $43.61.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, November 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.05. The business had revenue of $54.95 million for the quarter, compared to analysts’ expectations of $49.73 million. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. As a group, equities research analysts predict that Appian will post -0.77 EPS for the current fiscal year.

In other Appian news, major shareholder Qualified Master Fund L. Abdiel purchased 153,447 shares of the business’s stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $24.39 per share, with a total value of $3,742,572.33. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Abdiel Capital Management, Llc purchased 36,100 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were acquired at an average cost of $24.72 per share, for a total transaction of $892,392.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,043,266 shares of company stock worth $26,351,241 and have sold 64,145 shares worth $1,762,179. Insiders own 64.00% of the company’s stock.

Large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in Appian during the 3rd quarter worth about $166,000. California Public Employees Retirement System acquired a new position in shares of Appian during the 2nd quarter worth about $207,000. Point72 Asset Management L.P. acquired a new position in shares of Appian during the 2nd quarter worth about $264,000. Fox Run Management L.L.C. acquired a new position in shares of Appian during the 4th quarter worth about $210,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Appian during the 3rd quarter worth about $295,000. 22.18% of the stock is currently owned by hedge funds and other institutional investors.

About Appian

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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Analyst Recommendations for Appian (NASDAQ:APPN)

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