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

Appian Corporation (NASDAQ:APPN - Get Free Report) has received an average rating of "Hold" from the eight research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $36.29.

A number of research analysts have issued reports on APPN shares. Barclays upped their target price on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Citigroup boosted their price objective on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Scotiabank decreased 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 report on Thursday, April 24th. DA Davidson raised shares of Appian to a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley increased their price target on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $31.47, for a total transaction of $9,441,000.00. Following the transaction, the insider directly owned 8,767,828 shares of the company's stock, valued at $275,923,547.16. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 2,200,170 shares of company stock valued at $69,448,950 in the last 90 days. 44.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Appian

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC boosted its stake in Appian by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company's stock valued at $958,000 after acquiring an additional 368 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock worth $270,000 after purchasing an additional 400 shares during the last quarter. Concord Wealth Partners increased its position in shares of Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after purchasing an additional 461 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after purchasing an additional 500 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position in shares of Appian by 6.3% during the first quarter. Penserra Capital Management LLC now owns 16,646 shares of the company's stock worth $479,000 after purchasing an additional 989 shares during the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Stock Down 0.9%

Shares of APPN traded down $0.26 during mid-day trading on Friday, reaching $30.20. 491,929 shares of the company's stock were exchanged, compared to its average volume of 567,715. Appian has a 52-week low of $24.00 and a 52-week high of $43.33. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -36.52 and a beta of 1.73. The company has a 50-day simple moving average of $30.91 and a two-hundred day simple moving average of $31.57.

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

Appian Company Profile

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.