Appian (NASDAQ:APPN) Lowered to "Hold" Rating by Zacks Research

Key Points

• Appian's stock rating has been downgraded from a "strong-buy" to a "hold" by Zacks Research, reflecting concerns about future performance.
• Despite missing earnings estimates slightly for the recent quarter, Appian reported a revenue increase of 16.5% year-over-year.
• Institutional investments in Appian have surged, evidenced by significant increases in holdings from firms like Jones Financial and Bank of America, contributing to over 52% of stock ownership by institutional investors.

Appian (NASDAQ:APPN - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. DA Davidson initiated coverage on shares of Appian in a report on Friday, August 8th. They issued a "neutral" rating and a $30.00 price objective on the stock. Citigroup boosted their price objective on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $33.40.

Appian Stock Down 5.2%

NASDAQ APPN opened at $31.03 on Tuesday. Appian has a 52 week low of $24.00 and a 52 week high of $43.33. The business's fifty day simple moving average is $29.59 and its 200-day simple moving average is $30.00. The firm has a market cap of $2.30 billion, a PE ratio of -134.91 and a beta of 1.71.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $170.64 million for the quarter, compared to analysts' expectations of $160.01 million. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.26) EPS. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Research analysts expect that Appian will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Appian

A number of institutional investors and hedge funds have recently made changes to their positions in APPN. Jones Financial Companies Lllp grew its position in shares of Appian by 347,121.5% during the first quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company's stock worth $45,516,000 after buying an additional 1,579,403 shares in the last quarter. Bank of America Corp DE grew its position in shares of Appian by 182.7% during the second quarter. Bank of America Corp DE now owns 237,421 shares of the company's stock worth $7,089,000 after buying an additional 524,420 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Appian by 211.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 690,788 shares of the company's stock valued at $20,627,000 after purchasing an additional 469,259 shares in the last quarter. Caption Management LLC boosted its holdings in Appian by 127.3% in the second quarter. Caption Management LLC now owns 80,472 shares of the company's stock valued at $2,403,000 after purchasing an additional 375,758 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Appian by 150.8% in the second quarter. Marshall Wace LLP now owns 609,354 shares of the company's stock valued at $18,195,000 after purchasing an additional 366,349 shares in the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

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.

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