Appian (NASDAQ:APPN) Price Target Raised to $41.00 at KeyCorp

Appian (NASDAQ:APPN) had its price target increased by KeyCorp from $37.00 to $41.00 in a report published on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Separately, Barclays lowered their price objective on shares of Appian from $36.00 to $32.00 and set an underweight rating on the stock in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Appian presently has an average rating of Moderate Buy and a consensus target price of $47.00.

Appian Price Performance

Shares of NASDAQ:APPN opened at $37.75 on Wednesday. The firm’s 50 day moving average is $30.96 and its two-hundred day moving average is $33.71. Appian has a 52 week low of $26.28 and a 52 week high of $52.99. The firm has a market capitalization of $2.73 billion, a P/E ratio of -25.68 and a beta of 1.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.09). Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. The firm had revenue of $149.80 million during the quarter, compared to analyst estimates of $149.78 million. During the same quarter in the previous year, the business posted ($0.42) EPS. Appian’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts anticipate that Appian will post -1.38 earnings per share for the current year.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of Appian stock in a transaction that occurred on Friday, July 5th. The stock was purchased at an average cost of $30.94 per share, for a total transaction of $14,696,500.00. Following the completion of the acquisition, the insider now owns 6,365,304 shares of the company’s stock, valued at approximately $196,942,505.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Appian news, Director Albert G.W. Biddle III bought 3,225 shares of Appian stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the acquisition, the director now owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of Appian stock in a transaction that occurred on Friday, July 5th. The shares were acquired at an average price of $30.94 per share, with a total value of $14,696,500.00. Following the completion of the acquisition, the insider now directly owns 6,365,304 shares of the company’s stock, valued at approximately $196,942,505.76. The disclosure for this purchase can be found here. Insiders have purchased 1,081,568 shares of company stock worth $35,608,802 over the last quarter. 44.00% of the stock is currently owned by company insiders.

Institutional Trading of Appian

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in Appian by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after purchasing an additional 13,046 shares during the period. Neo Ivy Capital Management acquired a new position in Appian in the 2nd quarter worth approximately $65,000. Price T Rowe Associates Inc. MD boosted its stake in Appian by 5.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,494 shares during the period. Boulder Hill Capital Management LP acquired a new position in Appian in the 1st quarter worth approximately $1,678,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Appian by 70.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after purchasing an additional 196,435 shares during the period. 52.70% of the stock is currently owned by institutional investors.

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.