Brokerages Set Appian Co. (NASDAQ:APPN) PT at $36.80

Appian Co. (NASDAQ:APPN - Get Free Report) has received a consensus recommendation of "Hold" from the seven research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $35.17.

A number of equities analysts have recently weighed in on the company. KeyCorp reissued a "sector weight" rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They issued a "sector perform" rating and a $37.00 target price for the company. DA Davidson decreased their price target on shares of Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley cut their price target on Appian from $35.00 to $27.00 and set an "equal weight" rating for the company in a report on Wednesday.

Appian Trading Down 1.3 %

Shares of NASDAQ:APPN traded down $0.36 during midday trading on Tuesday, hitting $26.56. 843,065 shares of the stock were exchanged, compared to its average volume of 548,993. The stock has a market cap of $1.97 billion, a P/E ratio of -21.08 and a beta of 1.78. Appian has a twelve month low of $24.00 and a twelve month high of $43.33. The company has a 50 day moving average price of $30.20 and a 200-day moving average price of $33.49.

Appian (NASDAQ:APPN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business had revenue of $166.70 million during the quarter, compared to analysts' expectations of $164.31 million. During the same period last year, the company earned $0.06 EPS. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts expect that Appian will post -0.28 earnings per share for the current year.

Insider Activity

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the transaction, the director now directly owns 29,348 shares of the company's stock, valued at $974,647.08. This represents a 3.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock in a transaction dated Friday, April 4th. The stock was 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 in the company, valued at approximately $263,367,288.60. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,510 shares of company stock valued at $6,648,635. Company insiders own 44.00% of the company's stock.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Appian during the fourth quarter worth approximately $4,918,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Appian by 184.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company's stock worth $6,637,000 after acquiring an additional 130,606 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Appian by 418.8% in the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company's stock worth $5,303,000 after purchasing an additional 129,800 shares during the last quarter. Voloridge Investment Management LLC lifted its position in shares of Appian by 222.6% during the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company's stock worth $6,034,000 after purchasing an additional 126,256 shares during the last quarter. Finally, Norges Bank acquired a new position in Appian in the fourth quarter worth about $4,046,000. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

About Appian

Appian 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.