Appian (NASDAQ:APPN) Stock Rating Upgraded by DA Davidson

Appian (NASDAQ:APPN) was upgraded by equities research analysts at DA Davidson to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

APPN has been the topic of several other reports. Scotiabank lowered their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Citigroup boosted their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Morgan Stanley boosted their price objective on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Finally, Barclays boosted their price objective on shares of Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.29.

Appian Trading Down 1.5%

Shares of APPN stock opened at $31.45 on Monday. Appian has a 1 year low of $24.00 and a 1 year high of $43.33. The firm’s fifty day moving average price is $30.09 and its two-hundred day moving average price is $32.51. The firm has a market capitalization of $2.33 billion, a P/E ratio of -24.96 and a beta of 1.75.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. During the same period in the previous year, the business earned ($0.24) EPS. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Appian will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $29.52, for a total value of $1,711,422.00. Following the completion of the sale, the insider now owns 10,121,563 shares of the company’s stock, valued at $298,788,539.76. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 2,141,195 shares of company stock valued at $67,441,394. Company insiders own 43.00% of the company’s stock.

Institutional Trading of Appian

A number of institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC boosted its holdings in Appian by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company’s stock valued at $958,000 after purchasing an additional 368 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after purchasing an additional 400 shares during the period. Concord Wealth Partners boosted its holdings in Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after purchasing an additional 461 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in Appian by 6.3% in the 1st quarter. Penserra Capital Management LLC now owns 16,646 shares of the company’s stock valued at $479,000 after purchasing an additional 989 shares during the period. 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.