TD Cowen Has Lowered Expectations for Appian (NASDAQ:APPN) Stock Price

Appian (NASDAQ:APPN) had its price target lowered by TD Cowen from $35.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 19.33% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Barclays dropped their price target on shares of Appian from $34.00 to $21.00 and set an “underweight” rating on the stock in a report on Friday. Morgan Stanley set a $41.00 target price on Appian in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a report on Monday, December 29th. DA Davidson set a $25.00 price objective on Appian in a research note on Friday. Finally, Wall Street Zen cut Appian from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.00.

Appian Price Performance

Shares of NASDAQ:APPN opened at $25.14 on Friday. The business has a fifty day moving average price of $30.55 and a 200-day moving average price of $32.39. The company has a market capitalization of $1.86 billion, a PE ratio of 2,514.00 and a beta of 0.90. Appian has a 1-year low of $21.77 and a 1-year high of $46.06.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $202.87 million for the quarter, compared to analysts’ expectations of $189.33 million. Appian had a net margin of 0.17% and a negative return on equity of 11.98%. The company’s revenue was up 21.7% on a year-over-year basis. Appian has set its FY 2026 guidance at 0.820-0.960 EPS and its Q1 2026 guidance at 0.160-0.200 EPS. On average, sell-side analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Appian

Large investors have recently made changes to their positions in the business. Invesco Ltd. grew its position in shares of Appian by 13.2% during the fourth quarter. Invesco Ltd. now owns 47,737 shares of the company’s stock worth $1,691,000 after purchasing an additional 5,560 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Appian by 26.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,191 shares of the company’s stock worth $538,000 after purchasing an additional 3,198 shares in the last quarter. XTX Topco Ltd boosted its stake in Appian by 75.2% in the 4th quarter. XTX Topco Ltd now owns 20,453 shares of the company’s stock worth $724,000 after purchasing an additional 8,782 shares during the period. Zacks Investment Management boosted its stake in Appian by 176.6% in the 4th quarter. Zacks Investment Management now owns 32,363 shares of the company’s stock worth $1,146,000 after purchasing an additional 20,663 shares during the period. Finally, Tudor Investment Corp ET AL grew its holdings in Appian by 0.8% during the 4th quarter. Tudor Investment Corp ET AL now owns 372,810 shares of the company’s stock valued at $13,205,000 after buying an additional 2,939 shares in the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Key Appian News

Here are the key news stories impacting Appian this week:

• Positive Sentiment: Q4 beat and revenue growth — Appian reported $0.15 EPS vs. consensus ~$0.11 and revenue of $202.9M (≈22% YoY growth), beating estimates. This is the main driver of the rally. Appian Q4 Earnings Surpass Estimates
• Positive Sentiment: Raised guidance — Appian issued Q1 FY2026 EPS guidance of $0.160–0.200 (well above street) and FY2026 EPS of $0.820–0.960, plus higher revenue ranges, which materially improved forward expectations. Press Release / Guidance
• Positive Sentiment: Profitability and buyback — Coverage notes Appian has turned profitable and announced a $50M buyback, supporting EPS trajectory and signaling management confidence. Investors Reacting To Appian Turning Profitable
• Positive Sentiment: Operational highlights — Cloud subscription revenue grew ~18–19% YoY (Q4 and FY cloud subs), and management cited AI-driven upsell momentum and public sector gains in the outlook. Earnings Presentation
• Neutral Sentiment: Supporting materials — Multiple transcripts and deep-dive write-ups (earnings call, slide deck) are available for due diligence; these provide detail but are informational rather than market-moving by themselves. Earnings Call Transcript
• Neutral Sentiment: Short-interest data appears anomalous — Recent short-interest reports show “0” shares (likely a reporting glitch); no clear signal of a meaningful short squeeze or covering pressure. MarketBeat
• Neutral Sentiment: Volume and momentum — Trading volume has picked up versus the stock’s average, consistent with earnings-driven moves; monitor whether volume sustains. Seeking Alpha: Stock Reaction
• Negative Sentiment: Analyst downgrades/target cuts — TD Cowen lowered its target to $30 (hold) and Barclays cut to $21 (underweight); these trims indicate some analysts are taking a more cautious view despite the beat. Benzinga (TD Cowen) Benzinga (Barclays)

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.