Appian Corporation (NASDAQ:APPN) Receives Average Rating of “Hold” from Analysts

Appian Corporation (NASDAQ:APPN) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment 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 twelve-month price objective among brokerages that have covered the stock in the last year is $38.40.

A number of equities analysts recently issued reports on the company. DA Davidson assumed coverage on Appian in a report on Friday, November 7th. They issued a “hold” rating and a $38.00 target price on the stock. Citigroup reissued a “buy” rating on shares of Appian in a research note on Tuesday, January 27th. Zacks Research downgraded Appian from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. TD Cowen reiterated a “hold” rating on shares of Appian in a report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of Appian from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd.

Appian Price Performance

Shares of APPN opened at $25.21 on Monday. The firm’s 50 day moving average is $33.82 and its 200-day moving average is $32.74. Appian has a 12-month low of $23.88 and a 12-month high of $46.06. The stock has a market capitalization of $1.86 billion, a P/E ratio of -252.07 and a beta of 0.90.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APPN. EverSource Wealth Advisors LLC boosted its stake 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. Northwestern Mutual Wealth Management Co. boosted its holdings in Appian by 693.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after purchasing an additional 846 shares in the last quarter. Allworth Financial LP increased its position in Appian by 175.2% during the third 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. PNC Financial Services Group Inc. raised its holdings in Appian by 89.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock valued at $36,000 after buying an additional 564 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Appian by 191.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,615 shares of the company’s stock worth $57,000 after buying an additional 1,061 shares during the last quarter. Hedge funds and other 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.