Barclays Cuts Appian (NASDAQ:APPN) Price Target to $32.00

Appian (NASDAQ:APPN) had its price objective cut by equities researchers at Barclays from $36.00 to $32.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 0.06% from the stock’s previous close.

A number of other research analysts have also recently weighed in on APPN. DA Davidson lowered their price objective on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. William Blair reissued an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. KeyCorp lifted their target price on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, Citigroup lifted their target price on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Appian presently has an average rating of “Moderate Buy” and a consensus target price of $46.43.

Appian Stock Up 3.1 %

APPN stock opened at $31.98 on Friday. Appian has a twelve month low of $28.22 and a twelve month high of $54.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. The stock has a market cap of $2.35 billion, a P/E ratio of -21.75 and a beta of 1.46. The business’s 50-day moving average price is $36.71 and its 200-day moving average price is $36.45.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative return on equity of 146.23% and a negative net margin of 19.20%. The firm had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million. On average, equities research analysts forecast that Appian will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction that occurred on 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 sale, the insider now owns 5,890,304 shares of the company’s stock, valued at approximately $191,081,461.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 43.60% of the company’s stock.

Institutional Trading of Appian

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Appian by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock worth $176,602,000 after acquiring an additional 132,827 shares during the last quarter. Hawk Ridge Capital Management LP increased its position in shares of Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock valued at $70,043,000 after purchasing an additional 236,230 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after purchasing an additional 93,251 shares during the last quarter. First Trust Advisors LP increased its position in shares of Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after purchasing an additional 317,411 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Appian by 1.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 466,062 shares of the company’s stock valued at $17,552,000 after purchasing an additional 4,543 shares during the last quarter. Institutional investors 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.