Appian (NASDAQ:APPN) Stock Rating Lowered by Wall Street Zen

Appian (NASDAQ:APPN) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

APPN has been the subject of a number of other reports. TD Cowen restated a “hold” rating on shares of Appian in a research note on Thursday, November 6th. DA Davidson began coverage on shares of Appian in a research note on Friday, November 7th. They issued a “hold” rating and a $38.00 target price for the company. Morgan Stanley raised shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Monday, January 12th. Zacks Research downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Barclays lowered their price objective on shares of Appian from $37.00 to $34.00 and set an “underweight” rating on the stock in a research note on Monday, January 12th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.40.

Appian Price Performance

Shares of APPN stock opened at $29.71 on Friday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -297.07 and a beta of 0.82. Appian has a one year low of $24.00 and a one year high of $46.06. The stock’s fifty day simple moving average is $36.56 and its 200 day simple moving average is $32.84.

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

Institutional Investors Weigh In On Appian

A number of institutional investors have recently made changes to their positions in APPN. Y Intercept Hong Kong Ltd acquired a new stake in Appian during the second quarter worth about $3,992,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Appian by 47.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 374,764 shares of the company’s stock worth $11,190,000 after acquiring an additional 119,852 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Appian during the 2nd quarter worth approximately $3,135,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Appian by 211.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 690,788 shares of the company’s stock worth $20,627,000 after acquiring an additional 469,259 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Appian in the second quarter valued at approximately $874,000. Institutional investors 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.