Appian Corporation (NASDAQ:APPN) Given Average Rating of “Hold” by Brokerages

Appian Corporation (NASDAQ:APPN) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $39.00.

A number of equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Appian from $33.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, November 7th. Wall Street Zen raised shares of Appian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 6th. Morgan Stanley upped their price target on shares of Appian from $29.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Cowen reiterated a “hold” rating on shares of Appian in a report on Thursday, November 6th. Finally, DA Davidson began coverage on Appian in a report on Friday, November 7th. They set a “hold” rating and a $38.00 target price for the company.

Appian Stock Down 0.1%

APPN stock opened at $36.84 on Friday. Appian has a 52-week low of $24.00 and a 52-week high of $46.06. The firm has a market cap of $2.72 billion, a P/E ratio of -368.36 and a beta of 0.84. The company’s 50-day simple moving average is $36.59 and its 200-day simple moving average is $32.34.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.27. The business had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $174.11 million. Appian’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Appian

A number of large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Appian by 7.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,386 shares of the company’s stock worth $221,000 after purchasing an additional 507 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Appian by 89.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock worth $36,000 after buying an additional 564 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Appian by 282.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 599 shares during the period. Legal & General Group Plc raised its position in shares of Appian by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 37,730 shares of the company’s stock valued at $1,153,000 after buying an additional 632 shares during the period. Finally, Allworth Financial LP lifted its holdings in Appian by 175.2% in the third quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after acquiring an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

About Appian

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.