Barclays Increases Appian (NASDAQ:APPN) Price Target to $33.00

Appian (NASDAQ:APPN - Free Report) had its price objective hoisted by Barclays from $28.00 to $33.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other research analysts have also weighed in on APPN. DA Davidson cut their target price on Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup cut their target price on Appian from $53.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank cut their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley cut their target price on Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Appian currently has an average rating of "Hold" and an average target price of $36.14.

Appian Stock Down 1.1%

Shares of APPN stock traded down $0.34 during mid-day trading on Friday, hitting $31.69. 794,974 shares of the company's stock were exchanged, compared to its average volume of 553,858. Appian has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The stock has a 50-day simple moving average of $29.40 and a two-hundred day simple moving average of $33.35. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -25.15 and a beta of 1.83.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.12. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) EPS. As a group, analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, the director now directly owns 29,348 shares of the company's stock, valued at approximately $974,647.08. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total value of $1,711,422.00. Following the sale, the insider now directly owns 10,121,563 shares in the company, valued at approximately $298,788,539.76. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,510 shares of company stock valued at $6,648,635 over the last three months. 43.00% of the stock is owned by company insiders.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in shares of Appian during the fourth quarter worth about $35,000. Canada Pension Plan Investment Board grew its stake in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after purchasing an additional 500 shares in the last quarter. Concord Wealth Partners grew its stake in Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after purchasing an additional 461 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after purchasing an additional 3,498 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in Appian by 2,052.0% in the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock worth $122,000 after purchasing an additional 4,022 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.