Appian Corporation (NASDAQ:APPN) Short Interest Down 25.8% in August

Key Points

• Short Interest Drop: Appian Corporation experienced a significant drop in short interest, decreasing by 25.8% to 2,390,000 shares as of August 31st, with about 6.2% of shares short sold.
• Quarterly Earnings Performance: For Q2, Appian reported a loss of ($0.14) EPS, which was a slight miss from the consensus estimate of ($0.13), but revenue increased by 16.5% year-over-year to $170.64 million.
• Analyst Ratings: Appian currently holds an average analyst rating of "Hold" with a consensus target price set at $33.40, as analysts have varied in their ratings from "Buy" to "Sell."

Appian Corporation (NASDAQ:APPN - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 2,390,000 shares, a decline of 25.8% from the August 15th total of 3,220,000 shares. Approximately 6.2% of the company's shares are short sold. Based on an average trading volume of 899,000 shares, the short-interest ratio is currently 2.7 days. Based on an average trading volume of 899,000 shares, the short-interest ratio is currently 2.7 days. Approximately 6.2% of the company's shares are short sold.

Appian Price Performance

Shares of Appian stock traded down $0.49 on Friday, hitting $32.67. The company had a trading volume of 1,572,186 shares, compared to its average volume of 886,187. The firm has a market capitalization of $2.42 billion, a P/E ratio of -142.04 and a beta of 1.71. Appian has a twelve month low of $24.00 and a twelve month high of $43.33. The stock has a 50-day moving average of $29.74 and a 200-day moving average of $29.96.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $170.64 million for the quarter, compared to analysts' expectations of $160.01 million. During the same quarter in the prior year, the business 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 analysts predict that Appian will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. PNC Financial Services Group Inc. boosted its stake in shares of Appian by 89.0% during 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 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 valued at $74,000 after acquiring an additional 461 shares in the last quarter. Globeflex Capital L P bought a new position in shares of Appian during the second quarter valued at approximately $90,000. 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 valued at $122,000 after acquiring an additional 4,022 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Appian by 456.2% during the second quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company's stock valued at $128,000 after acquiring an additional 3,513 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Appian in a research note on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Zacks Research lowered shares of Appian from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $33.40.

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.