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 stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday, September 9th,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. DA Davidson began coverage on Appian in a report on Friday, August 8th. They set a "neutral" rating and a $30.00 price objective on the stock. Citigroup increased their target price on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.40.

Appian Stock Down 0.1%

Shares of APPN stock traded down $0.05 on Tuesday, reaching $30.76. The company had a trading volume of 212,165 shares, compared to its average volume of 689,525. The business's 50-day moving average is $29.61 and its 200 day moving average is $29.92. Appian has a one year low of $24.00 and a one year high of $43.33. The stock has a market capitalization of $2.28 billion, a PE ratio of -133.67 and a beta of 1.71.

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

Hedge Funds Weigh In On Appian

A number of hedge funds have recently bought and sold shares of APPN. AQR Capital Management LLC boosted its holdings in shares of Appian by 368.8% in the 1st quarter. AQR Capital Management LLC now owns 199,869 shares of the company's stock worth $5,758,000 after buying an additional 157,233 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Appian in the 1st quarter worth about $7,166,000. GAMMA Investing LLC boosted its holdings in shares of Appian by 2,716.2% in the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock worth $1,800,000 after buying an additional 6,030 shares during the last quarter. Petrus Trust Company LTA purchased a new position in shares of Appian in the 1st quarter worth about $227,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Appian in the 1st quarter worth about $373,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.