Appian (NASDAQ:APPN) Price Target Raised to $34.00

Appian (NASDAQ:APPN) had its price target lifted by Barclays from $29.00 to $34.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

APPN has been the topic of a number of other reports. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group cut their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, DA Davidson restated a “neutral” rating and set a $33.00 price target on shares of Appian in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Appian presently has a consensus rating of “Hold” and an average price target of $40.20.

Appian Price Performance

Shares of APPN opened at $40.78 on Friday. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The business’s fifty day moving average price is $33.35 and its 200 day moving average price is $32.21. The stock has a market capitalization of $2.95 billion, a PE ratio of -27.37 and a beta of 1.57.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.24. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company had revenue of $154.05 million for the quarter, compared to the consensus estimate of $150.94 million. As a group, research analysts anticipate that Appian will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 274,583 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $30.05 per share, for a total transaction of $8,251,219.15. Following the completion of the purchase, the insider now directly owns 9,092,617 shares in the company, valued at $273,233,140.85. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders acquired 766,276 shares of company stock worth $23,508,341. 44.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after purchasing an additional 392,190 shares in the last quarter. Empyrean Capital Partners LP bought a new position in Appian during the second quarter valued at about $7,715,000. CANADA LIFE ASSURANCE Co grew its holdings in Appian by 70.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after acquiring an additional 196,435 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Appian in the 2nd quarter worth approximately $4,657,000. Finally, 272 Capital LP acquired a new position in Appian in the second quarter worth approximately $2,179,000. Institutional investors own 52.70% of the company’s stock.

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.