Shares of Appian Co. (NASDAQ:APPN - Get Free Report) have earned a consensus rating of "Hold" from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.29.
A number of brokerages recently weighed in on APPN. Morgan Stanley boosted their price objective on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Citigroup boosted their price target on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. DA Davidson increased their price objective on shares of Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Scotiabank dropped their target price on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Finally, Barclays increased their price objective on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th.
Check Out Our Latest Research Report on Appian
Appian Trading Up 1.2%
APPN stock traded up $0.38 during trading on Wednesday, reaching $32.18. 620,549 shares of the stock were exchanged, compared to its average volume of 564,095. The firm's 50 day moving average is $29.97 and its 200 day moving average is $32.63. The firm has a market cap of $2.39 billion, a P/E ratio of -25.54 and a beta of 1.75. Appian has a twelve month low of $24.00 and a twelve month high of $43.33.
Appian (NASDAQ:APPN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.43 million during the quarter, compared to analyst estimates of $163.27 million. During the same period in the prior year, the company earned ($0.24) earnings per share. Appian's revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Appian will post -0.28 earnings per share for the current fiscal year.
Insider Activity
In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the sale, the insider now directly owns 9,942,140 shares of the company's stock, valued at $263,367,288.60. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 2,141,195 shares of company stock valued at $67,441,394 over the last 90 days. Insiders own 43.00% of the company's stock.
Hedge Funds Weigh In On Appian
Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after purchasing an additional 53,172 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Appian in the 4th quarter valued at $1,688,000. Geode Capital Management LLC boosted its stake in shares of Appian by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock valued at $32,071,000 after purchasing an additional 14,710 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after buying an additional 1,100 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Appian by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock worth $165,839,000 after purchasing an additional 23,890 shares during the last quarter. Institutional investors own 52.70% of the company's stock.
About Appian
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Get Free ReportAppian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.
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