Appian Corporation (NASDAQ:APPN) Receives $35.50 Consensus PT from Analysts

Appian Corporation (NASDAQ:APPN - Get Free Report) has earned a consensus rating of "Hold" from the eight research firms that are presently covering the stock, 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 12 month target price among brokerages that have issued a report on the stock in the last year is $35.50.

Several equities analysts recently issued reports on APPN shares. Barclays lifted their price objective on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a report on Friday, May 9th. Citigroup increased their price objective on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Scotiabank decreased their price objective on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. DA Davidson raised Appian to a "hold" rating in a research note on Tuesday. Finally, Morgan Stanley increased their price objective on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th.

Appian Stock Up 0.3%

Shares of Appian stock traded up $0.09 during trading on Thursday, reaching $29.61. The company's stock had a trading volume of 908,134 shares, compared to its average volume of 590,534. Appian has a 12-month low of $24.00 and a 12-month high of $43.33. The company has a market capitalization of $2.20 billion, a P/E ratio of -35.67 and a beta of 1.72. The business has a 50 day moving average price of $30.35 and a 200-day moving average price of $31.04.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. The business had revenue of $166.43 million during the quarter, compared to analysts' expectations of $163.27 million. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.24) earnings per share. Research analysts predict that Appian will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $31.45, for a total transaction of $328,652.50. Following the completion of the sale, the insider directly owned 7,736,491 shares in the company, valued at $243,312,641.95. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 2,018,625 shares of company stock worth $64,544,615 in the last ninety days. Corporate insiders own 43.00% of the company's stock.

Institutional Investors Weigh In On Appian

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPN. Point72 Hong Kong Ltd acquired a new stake in Appian during the fourth quarter worth about $35,000. Concord Wealth Partners lifted its position in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after acquiring an additional 461 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after acquiring an additional 500 shares in the last quarter. Headlands Technologies LLC lifted its position in Appian by 2,052.0% during the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock worth $122,000 after acquiring an additional 4,022 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after acquiring an additional 3,498 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.