Appian Co. (NASDAQ:APPN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Appian Co. (NASDAQ:APPN) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $39.20.

Several equities research analysts have issued reports on APPN shares. Barclays cut their price target on Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, August 5th. DA Davidson reaffirmed a “neutral” rating and set a $33.00 price target on shares of Appian in a report on Monday, October 14th. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price objective on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Appian Trading Up 3.3 %

NASDAQ APPN opened at $33.38 on Tuesday. The company has a market cap of $2.41 billion, a PE ratio of -22.71 and a beta of 1.57. Appian has a 12 month low of $26.28 and a 12 month high of $42.99. The stock has a 50 day moving average of $32.23 and a 200-day moving average of $32.08.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. The company had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.55) EPS. As a group, sell-side analysts predict that Appian will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $36.74 per share, for a total transaction of $5,511,000.00. Following the completion of the transaction, the insider now owns 8,105,847 shares of the company’s stock, valued at approximately $297,808,818.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have purchased 1,194,276 shares of company stock worth $36,676,851. Company insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Appian by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock valued at $176,602,000 after purchasing an additional 132,827 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Appian in the fourth quarter worth approximately $210,000. Los Angeles Capital Management LLC lifted its stake in shares of Appian by 14.1% in the first quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock worth $930,000 after acquiring an additional 2,881 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Appian in the first quarter worth approximately $220,000. Finally, Concord Wealth Partners acquired a new position in shares of Appian in the first quarter worth approximately $85,000. 52.70% of the stock is owned by institutional investors and hedge funds.

About Appian

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.