Appian Corporation (NASDAQ:APPN) Receives $38.40 Consensus PT from Analysts

Shares of Appian Corporation (NASDAQ:APPN) have earned an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.40.

Several brokerages recently weighed in on APPN. Zacks Research downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Morgan Stanley upgraded shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Monday, January 12th. Cowen restated a “hold” rating on shares of Appian in a research report on Thursday, November 6th. Wall Street Zen raised shares of Appian from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 6th. Finally, Barclays cut their price target on Appian from $37.00 to $34.00 and set an “underweight” rating on the stock in a research report on Monday, January 12th.

Appian Price Performance

Shares of APPN stock opened at $28.62 on Thursday. The business has a fifty day moving average of $38.04 and a 200 day moving average of $32.91. Appian has a 1 year low of $24.00 and a 1 year high of $46.06. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -286.17 and a beta of 0.82.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The firm had revenue of $187.00 million during the quarter, compared to analyst estimates of $174.11 million. During the same period in the prior year, the company posted $0.15 earnings per share. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities research analysts expect that Appian will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wolf Hill Capital Management LP boosted its position in Appian by 298.1% in the 3rd quarter. Wolf Hill Capital Management LP now owns 995,210 shares of the company’s stock worth $30,424,000 after purchasing an additional 745,210 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Appian by 13.0% during the third quarter. Vanguard Group Inc. now owns 5,935,948 shares of the company’s stock worth $181,462,000 after buying an additional 681,643 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Appian by 86.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,291,124 shares of the company’s stock worth $39,470,000 after acquiring an additional 600,336 shares in the last quarter. Bank of America Corp DE grew its position in shares of Appian by 182.7% during the 2nd quarter. Bank of America Corp DE now owns 237,421 shares of the company’s stock valued at $7,089,000 after acquiring an additional 524,420 shares during the period. Finally, Caption Management LLC increased its stake in shares of Appian by 127.3% in the 2nd quarter. Caption Management LLC now owns 80,472 shares of the company’s stock valued at $2,403,000 after purchasing an additional 375,758 shares in the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

About Appian

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.