Appian (NASDAQ:APPN) Price Target Cut to $28.00 by Analysts at Barclays

Appian (NASDAQ:APPN) had its target price cut by Barclays from $37.00 to $28.00 in a research report released on Monday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts also recently commented on APPN. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. DA Davidson decreased their price objective on shares of Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their target price on shares of Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Scotiabank began coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.67.

Appian Stock Performance

NASDAQ:APPN opened at $25.83 on Monday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -20.50 and a beta of 1.78. Appian has a one year low of $24.00 and a one year high of $43.33. The business’s 50-day simple moving average is $30.03 and its 200 day simple moving average is $33.43.

Appian (NASDAQ:APPN) last released its earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. On average, equities research analysts predict that Appian will post -0.28 EPS for the current year.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $27.02, for a total value of $137,883.06. Following the completion of the transaction, the insider now directly owns 9,755,116 shares of the company’s stock, valued at $263,583,234.32. This represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the sale, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,510 shares of company stock worth $6,648,635. Insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

Several large investors have recently bought and sold shares of APPN. Point72 Hong Kong Ltd bought a new position in shares of Appian in the fourth quarter valued at approximately $35,000. Canada Pension Plan Investment Board lifted its position in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the period. Russell Investments Group Ltd. boosted its stake in Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after purchasing an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Appian during the 4th quarter valued at $181,000. Finally, GAMMA Investing LLC increased its position in shares of Appian by 2,716.2% during the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company’s stock valued at $1,800,000 after purchasing an additional 6,030 shares during the period. 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.