Appian Corporation (NASDAQ:APPN) Short Interest Down 23.6% in July

Key Points

• Appian Corporation experienced a 23.6% decline in short interest during July, totaling 2,850,000 shares, which represents 7.3% of the company's shares currently being shorted.
• Several analysts have updated their ratings and price targets for Appian, with Citigroup giving it a Buy rating and raising the price objective to $41.00, while the current consensus rating is Hold with an average price target of $33.40.
• The company reported a revenue increase of 16.5% year-over-year, with quarterly earnings of ($0.14) per share, missing estimates by one cent.

Appian Corporation (NASDAQ:APPN - Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 2,850,000 shares, adeclineof23.6% from the July 15th total of 3,730,000 shares. Based on an average daily volume of 774,800 shares, the short-interest ratio is presently 3.7 days. Approximately7.3% of the shares of the company are sold short. Approximately7.3% of the shares of the company are sold short. Based on an average daily volume of 774,800 shares, the short-interest ratio is presently 3.7 days.

Wall Street Analyst Weigh In

Several research firms have weighed in on APPN. Barclays boosted their target price 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. Morgan Stanley boosted their target price on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Citigroup raised their target price on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Zacks Research upgraded shares of Appian to a "strong-buy" rating in a research report on Monday, August 11th. Finally, DA Davidson initiated coverage on shares of Appian in a research report on Friday, August 8th. They set a "neutral" rating and a $30.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Appian currently has a consensus rating of "Hold" and an average target price of $33.40.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $31.45, for a total transaction of $328,652.50. Following the completion of the sale, the insider owned 7,736,491 shares in the company, valued at $243,312,641.95. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,462,510 shares of company stock worth $46,548,837 in the last three months. 43.00% of the stock is owned by insiders.

Institutional Trading of Appian

A number of hedge funds have recently bought and sold shares of APPN. Point72 Hong Kong Ltd purchased a new stake in shares of Appian in the fourth quarter worth approximately $35,000. PNC Financial Services Group Inc. raised its position in shares of Appian by 89.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company's stock valued at $36,000 after purchasing an additional 564 shares during the period. Concord Wealth Partners raised its position in shares of Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after purchasing an additional 461 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Appian by 27.8% in the fourth 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 during the period. Finally, Globeflex Capital L P bought a new position in shares of Appian in the second quarter valued at approximately $90,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Trading Down 2.0%

APPN stock traded down $0.60 during mid-day trading on Monday, reaching $29.21. 175,734 shares of the stock traded hands, compared to its average volume of 667,695. Appian has a 52-week low of $24.00 and a 52-week high of $43.33. The company has a market cap of $2.16 billion, a P/E ratio of -127.04 and a beta of 1.75. The stock's fifty day moving average is $29.28 and its 200-day moving average is $30.22.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $170.64 million for the quarter, compared to the consensus estimate of $160.01 million. During the same period in the previous year, the company earned ($0.26) earnings per share. The company's quarterly revenue was up 16.5% on a year-over-year basis. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Equities research analysts expect that Appian will post -0.28 earnings per share for the current 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.