Appian Co. (NASDAQ:APPN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Appian Co. (NASDAQ:APPN) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $48.86.

Several equities analysts have recently issued reports on APPN shares. Citigroup lifted their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. DA Davidson decreased their price target on shares of Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. KeyCorp increased their price objective on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Barclays lifted their target price on Appian from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday, April 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of Appian in a report on Wednesday, March 20th.

Appian Trading Up 2.2 %

Appian stock opened at $38.37 on Tuesday. The stock has a market capitalization of $2.82 billion, a PE ratio of -25.08 and a beta of 1.46. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. Appian has a 12-month low of $30.87 and a 12-month high of $54.26. The firm has a 50 day simple moving average of $36.64 and a 200-day simple moving average of $36.64.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.33. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The company had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million. As a group, equities research analysts expect that Appian will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total value of $12,976,000.00. Following the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, valued at approximately $191,081,461.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 43.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Appian in the 4th quarter valued at approximately $47,000. Quest Partners LLC bought a new stake in Appian in the 4th quarter valued at $177,000. Victory Capital Management Inc. raised its stake in shares of Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after buying an additional 1,027 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Appian during the 4th quarter valued at about $210,000. Finally, Atria Wealth Solutions Inc. acquired a new position in Appian in the third quarter worth about $213,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

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.