Appian (NASDAQ:APPN) Price Target Raised to $36.00

Appian (NASDAQ:APPN) had its target price upped by Barclays from $35.00 to $36.00 in a report released on Monday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. KeyCorp raised their target price on shares of Appian from $45.00 to $50.00 and gave the company an overweight rating in a research note on Friday, February 16th. Citigroup raised their target price on shares of Appian from $48.00 to $52.00 and gave the company a neutral rating in a research note on Friday, March 22nd. DA Davidson lowered their target price on shares of Appian from $55.00 to $52.00 and set a buy rating for the company in a research note on Monday, March 4th. Finally, William Blair restated an outperform rating on shares of Appian in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Appian presently has a consensus rating of Moderate Buy and a consensus price target of $48.86.

Appian Price Performance

NASDAQ APPN opened at $37.99 on Monday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $36.23 and its 200-day moving average price is $37.12. Appian has a 52-week low of $30.87 and a 52-week high of $54.26. The company has a market cap of $2.79 billion, a PE ratio of -24.83 and a beta of 1.46.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The firm had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million. Sell-side analysts forecast that Appian will post -0.98 EPS for the current fiscal year.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the completion of the sale, the insider now directly owns 5,890,304 shares in the company, valued at $191,081,461.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 43.60% of the company’s stock.

Institutional Investors Weigh In On Appian

Institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC raised its holdings in shares of Appian by 14.1% during the first quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock worth $930,000 after purchasing an additional 2,881 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Appian during the fourth quarter worth $210,000. Vanguard Group Inc. raised its holdings 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 worth $176,602,000 after purchasing an additional 132,827 shares during the last quarter. Barclays PLC raised its holdings in shares of Appian by 411.0% during the fourth quarter. Barclays PLC now owns 65,824 shares of the company’s stock worth $2,478,000 after purchasing an additional 52,942 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in shares of Appian by 77.8% during the fourth quarter. Voloridge Investment Management LLC now owns 148,701 shares of the company’s stock worth $5,600,000 after purchasing an additional 65,075 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.