Appian (NASDAQ:APPN) Downgraded by Wall Street Zen to “Buy”

Appian (NASDAQ:APPN) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

A number of other research firms have also recently weighed in on APPN. DA Davidson assumed coverage on Appian in a research report on Friday, November 7th. They set a “hold” rating and a $38.00 price objective on the stock. Barclays lowered their price target on shares of Appian from $37.00 to $34.00 and set an “underweight” rating on the stock in a report on Monday, January 12th. Zacks Research cut shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Appian in a research report on Monday, December 29th. Finally, TD Cowen restated a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.40.

Appian Trading Up 1.3%

NASDAQ APPN traded up $0.38 during trading hours on Friday, hitting $29.71. 1,391,031 shares of the company’s stock traded hands, compared to its average volume of 811,993. Appian has a 52 week low of $24.00 and a 52 week high of $46.06. The firm has a market capitalization of $2.19 billion, a P/E ratio of -297.07 and a beta of 0.82. The business’s fifty day moving average price is $36.56 and its two-hundred day moving average price is $32.83.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. During the same period in the previous year, the firm earned $0.15 EPS. The company’s revenue was up 21.4% on a year-over-year basis. On average, sell-side analysts expect that Appian will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Appian by 282.5% in the third quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock worth $25,000 after buying an additional 599 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Appian by 693.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after acquiring an additional 846 shares in the last quarter. Allworth Financial LP boosted its position in shares of Appian by 175.2% during the 3rd quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after acquiring an additional 720 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of 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 purchasing an additional 564 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in Appian by 115.5% in the third quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock worth $51,000 after purchasing an additional 886 shares during the last quarter. Hedge funds and other institutional investors 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.