Appian (NASDAQ:APPN) Price Target Lowered to $28.00 at Barclays

Appian (NASDAQ:APPN - Get Free Report) had its price objective decreased by analysts at Barclays from $37.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price target points to a potential downside of 10.60% from the company's current price.

Several other equities analysts have also recently weighed in on the company. DA Davidson lowered their target price on Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. KeyCorp reiterated a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They set a "sector perform" rating and a $37.00 target price for the company. Finally, Morgan Stanley cut their price objective on Appian from $35.00 to $27.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $34.14.

Appian Trading Up 2.1 %

Shares of APPN traded up $0.63 during midday trading on Monday, hitting $31.32. The stock had a trading volume of 422,644 shares, compared to its average volume of 554,137. The business has a 50-day simple moving average of $29.82 and a two-hundred day simple moving average of $33.34. The firm has a market cap of $2.32 billion, a P/E ratio of -24.86 and a beta of 1.78. Appian has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. During the same period in the prior year, the business posted $0.06 EPS. The company's revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect that Appian will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the transaction, the director now owns 29,348 shares in the company, valued at $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $27.02, for a total transaction of $137,883.06. Following the completion of the sale, the insider now owns 9,755,116 shares of the company's stock, valued at $263,583,234.32. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,510 shares of company stock worth $6,648,635. Corporate insiders own 44.00% of the company's stock.

Institutional Investors Weigh In On Appian

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in shares of Appian during the 4th quarter worth about $35,000. Canada Pension Plan Investment Board lifted its holdings in shares of Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after buying an additional 500 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after acquiring an additional 3,498 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Appian in the fourth quarter worth $181,000. Finally, Entropy Technologies LP bought a new position in Appian during the fourth quarter worth $208,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.