Appian Corporation (NASDAQ:APPN) Given Consensus Recommendation of "Hold" by Analysts

Shares of Appian Corporation (NASDAQ:APPN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $36.29.

Several research firms have recently weighed in on APPN. Barclays raised their price objective on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. Morgan Stanley raised their price objective on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. DA Davidson raised Appian to a "hold" rating in a research note on Monday, June 9th. Scotiabank reduced their price objective on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Finally, Citigroup raised their target price on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the completion of the sale, the insider now directly owns 10,121,563 shares in the company, valued at approximately $298,788,539.76. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,258,145 shares of company stock valued at $71,160,372 over the last quarter. Company insiders own 43.00% of the company's stock.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Appian during the fourth quarter worth $35,000. Concord Wealth Partners raised its holdings in shares of Appian by 21.7% during the first 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 raised its holdings in shares of Appian by 27.8% during the fourth 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 raised its holdings in shares of Appian by 2,052.0% during the first 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. raised its holdings in shares of Appian by 1,244.8% during the fourth 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 hedge funds and other institutional investors.

Appian Stock Up 2.2%

NASDAQ APPN traded up $0.63 on Friday, reaching $29.00. 711,291 shares of the stock traded hands, compared to its average volume of 563,700. The firm's fifty day simple moving average is $30.76 and its 200 day simple moving average is $31.68. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -34.94 and a beta of 1.75. Appian has a 12 month low of $24.00 and a 12 month high of $43.33.

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

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.