Appian Corporation (NASDAQ:APPN) Short Interest Update

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

Appian Stock Performance

NASDAQ APPN opened at $30.97 on Wednesday. The firm has a 50 day simple moving average of $29.60 and a 200-day simple moving average of $29.93. Appian has a one year low of $24.00 and a one year high of $43.33. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -134.65 and a beta of 1.71.

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 the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $170.64 million for the quarter, compared to analyst estimates of $160.01 million. During the same period last year, the firm posted ($0.26) earnings per share. The business's revenue for the quarter 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 fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. purchased a new position in shares of Appian in the 4th quarter valued at about $268,000. Deutsche Bank AG boosted its stake in shares of Appian by 46.7% in the 4th quarter. Deutsche Bank AG now owns 34,735 shares of the company's stock valued at $1,146,000 after buying an additional 11,053 shares during the period. Millennium Management LLC boosted its stake in shares of Appian by 28.5% in the 4th quarter. Millennium Management LLC now owns 254,706 shares of the company's stock valued at $8,400,000 after buying an additional 56,420 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Appian by 110.0% in the 4th quarter. Nuveen Asset Management LLC now owns 222,748 shares of the company's stock valued at $7,346,000 after buying an additional 116,656 shares during the period. Finally, Man Group plc purchased a new position in shares of Appian in the 4th quarter valued at about $756,000. Hedge funds and other institutional investors own 52.70% of the company's stock.

Analysts Set New Price Targets

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

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