Appian Co. (NASDAQ:APPN) Receives Average Recommendation of “Hold” from Analysts

Appian Co. (NASDAQ:APPN) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $36.29.

APPN has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Morgan Stanley upped their price objective on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Barclays upped their price objective on shares of Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. Citigroup upped their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Scotiabank decreased their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp sold 225,720 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $32.21, for a total transaction of $7,270,441.20. Following the completion of the sale, the insider now owns 7,853,441 shares of the company’s stock, valued at approximately $252,959,334.61. This represents a 2.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,141,195 shares of company stock worth $67,441,394 in the last 90 days. Insiders own 43.00% of the company’s stock.

Institutional Trading of Appian

Several large investors have recently bought and sold shares of APPN. Jones Financial Companies Lllp grew its stake in Appian by 347,121.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company’s stock valued at $45,516,000 after acquiring an additional 1,579,403 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new stake in Appian during the 1st quarter valued at about $7,557,000. Jacobs Levy Equity Management Inc. purchased a new stake in Appian during the 1st quarter valued at about $7,166,000. AQR Capital Management LLC grew its stake in Appian by 368.8% during the 1st quarter. AQR Capital Management LLC now owns 199,869 shares of the company’s stock valued at $5,758,000 after acquiring an additional 157,233 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Appian during the 4th quarter valued at about $4,918,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

NASDAQ:APPN opened at $32.18 on Wednesday. Appian has a one year low of $24.00 and a one year high of $43.33. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -25.54 and a beta of 1.75. The firm’s fifty day moving average is $29.97 and its two-hundred day moving average is $32.57.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $166.43 million during the quarter, compared to the consensus estimate of $163.27 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. As a group, equities research analysts predict that Appian will post -0.28 earnings per share for the current fiscal year.

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.