Appian Co. (NASDAQ:APPN) Receives $122.00 Consensus Price Target from Brokerages

Appian Co. (NASDAQ:APPN) has received a consensus rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $123.86.

Several research analysts recently commented on the stock. Macquarie upgraded shares of Appian from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Tuesday, May 25th. Needham & Company LLC restated a “buy” rating and issued a $186.00 price target on shares of Appian in a report on Wednesday, September 1st. Truist dropped their price objective on shares of Appian from $205.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, August 2nd. They noted that the move was a valuation call. Barclays lifted their price objective on shares of Appian from $77.00 to $90.00 and gave the company an “underweight” rating in a research note on Friday. They noted that the move was a valuation call. Finally, Truist Securities dropped their price objective on shares of Appian from $205.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, August 2nd.

NASDAQ APPN traded up $0.11 during mid-day trading on Thursday, hitting $98.48. The company’s stock had a trading volume of 15,725 shares, compared to its average volume of 895,856. Appian has a 52-week low of $54.53 and a 52-week high of $260.00. The stock’s fifty day simple moving average is $109.24 and its two-hundred day simple moving average is $118.21. The firm has a market capitalization of $7.00 billion, a P/E ratio of -146.82 and a beta of 1.72.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Wednesday, August 4th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Appian had a negative net margin of 14.33% and a negative return on equity of 14.87%. The business had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $77.74 million. As a group, research analysts anticipate that Appian will post -0.92 earnings per share for the current year.

In other news, Director Albert G.W. Biddle III sold 5,900 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $134.97, for a total transaction of $796,323.00. Following the completion of the sale, the director now owns 9,096 shares of the company’s stock, valued at $1,227,687.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 43.90% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of Appian by 7.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,450 shares of the company’s stock worth $200,000 after buying an additional 100 shares in the last quarter. Huntington National Bank boosted its holdings in Appian by 52.9% in the second quarter. Huntington National Bank now owns 321 shares of the company’s stock worth $44,000 after purchasing an additional 111 shares during the period. Rockbridge Investment Management LCC boosted its holdings in Appian by 52.2% in the second quarter. Rockbridge Investment Management LCC now owns 353 shares of the company’s stock worth $49,000 after purchasing an additional 121 shares during the period. LexAurum Advisors LLC boosted its holdings in Appian by 9.1% in the second quarter. LexAurum Advisors LLC now owns 1,638 shares of the company’s stock worth $226,000 after purchasing an additional 137 shares during the period. Finally, King Luther Capital Management Corp boosted its holdings in Appian by 2.7% in the second quarter. King Luther Capital Management Corp now owns 5,512 shares of the company’s stock worth $759,000 after purchasing an additional 146 shares during the period. 38.52% of the stock is owned by institutional investors and hedge funds.

About Appian

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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Analyst Recommendations for Appian (NASDAQ:APPN)

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