Appian (NASDAQ:APPN) Stock Price Down 5.4% – Should You Sell?

Shares of Appian Corporation (NASDAQ:APPN) fell 5.4% on Friday . The stock traded as low as $33.75 and last traded at $33.5050. 139,892 shares traded hands during trading, a decline of 78% from the average session volume of 647,146 shares. The stock had previously closed at $35.42.

Analyst Upgrades and Downgrades

APPN has been the subject of several research analyst reports. Wall Street Zen raised shares of Appian from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Appian in a report on Monday. Zacks Research upgraded Appian from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Barclays boosted their price target on Appian from $33.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, November 7th. Finally, Morgan Stanley raised their price objective on Appian from $29.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Appian has an average rating of “Hold” and a consensus target price of $39.00.

Appian Stock Performance

The company’s fifty day moving average is $37.87 and its two-hundred day moving average is $32.63. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -334.48 and a beta of 0.82.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.05 by $0.27. The company had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $174.11 million. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share. As a group, analysts forecast that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Appian

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Appian by 282.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock worth $25,000 after purchasing an additional 599 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Appian by 693.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after purchasing an additional 846 shares in the last quarter. Allworth Financial LP grew its stake in Appian by 175.2% in the third quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock worth $35,000 after purchasing an additional 720 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Appian by 89.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock valued at $36,000 after buying an additional 564 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Appian by 115.5% during the third quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock valued at $51,000 after buying an additional 886 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.