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

Appian Corporation (NASDAQ:APPN) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $38.40.

A number of research firms recently commented on APPN. Cowen reiterated a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Morgan Stanley upgraded Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Monday. Zacks Research downgraded Appian from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Appian in a research note on Monday, December 29th. Finally, Barclays decreased their price objective on shares of Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a report on Monday.

Appian Trading Down 3.5%

Shares of NASDAQ:APPN opened at $30.45 on Thursday. The firm has a market cap of $2.25 billion, a PE ratio of -304.47 and a beta of 0.82. The company has a fifty day simple moving average of $38.45 and a 200 day simple moving average of $32.92. Appian has a 12-month low of $24.00 and a 12-month high of $46.06.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The company had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. The company’s revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. As a group, equities research analysts forecast that Appian will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Appian

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in Appian by 81.2% in the fourth quarter. SG Americas Securities LLC now owns 73,261 shares of the company’s stock valued at $2,595,000 after acquiring an additional 32,825 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Appian by 19.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,945 shares of the company’s stock worth $630,000 after purchasing an additional 3,127 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Appian in the 4th quarter worth approximately $1,584,000. Tudor Investment Corp ET AL grew its stake in Appian by 203.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 369,871 shares of the company’s stock worth $11,307,000 after buying an additional 248,169 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Appian by 175.2% during the 3rd quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock worth $35,000 after buying an additional 720 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Company Profile

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.