KeyCorp Trims Appian (NASDAQ:APPN) Target Price to $37.00

Appian (NASDAQ:APPN) had its price objective lowered by analysts at KeyCorp from $50.00 to $37.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 15.70% from the company’s current price.

Other research analysts have also recently issued research reports about the company. DA Davidson cut their price target on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. William Blair reiterated an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. Citigroup boosted their price target on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Finally, Barclays cut their price target on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.43.

Appian Trading Up 3.1 %

Shares of APPN opened at $31.98 on Friday. The stock’s 50-day moving average is $36.71 and its two-hundred day moving average is $36.45. The stock has a market cap of $2.35 billion, a PE ratio of -21.75 and a beta of 1.46. Appian has a 12 month low of $28.22 and a 12 month high of $54.26. 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 (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. The company had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million. Appian had a negative return on equity of 146.23% and a negative net margin of 19.20%. Equities analysts forecast that Appian will post -0.9 earnings per share for the current fiscal year.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’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 completion of the sale, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 43.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Appian

Several institutional investors have recently made changes to their positions in APPN. Headlands Technologies LLC bought a new position in shares of Appian during the fourth quarter valued at approximately $47,000. Concord Wealth Partners bought a new position in shares of Appian during the first quarter valued at approximately $85,000. Quest Partners LLC bought a new position in shares of Appian during the fourth quarter valued at approximately $177,000. Victory Capital Management Inc. grew its holdings in shares of Appian by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after purchasing an additional 1,027 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Appian during the fourth quarter valued at approximately $210,000. 52.70% of the stock is owned by institutional investors.

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.