Appian (NASDAQ:APPN) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Appian has been upgraded to a "Strong-Buy" rating by Zacks Research, indicating increased confidence in the company's stock performance.
• The firm reported a 16.5% year-over-year revenue increase for the latest quarter, with earnings per share of ($0.14), slightly missing analysts' estimates.
• Analysts have mixed opinions on the stock, with one Strong Buy, one Buy, four Hold, and two Sell ratings, resulting in an average rating of "Hold" with a consensus target price of $33.40.

Appian (NASDAQ:APPN - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. DA Davidson began coverage on shares of Appian in a research report on Friday, August 8th. They set a "neutral" rating and a $30.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Appian in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Appian presently has an average rating of "Hold" and a consensus target price of $33.40.

Appian Trading Up 1.0%

Shares of Appian stock opened at $29.84 on Wednesday. The company's fifty day simple moving average is $30.26 and its two-hundred day simple moving average is $30.00. The company has a market cap of $2.21 billion, a P/E ratio of -129.73 and a beta of 1.76. Appian has a 12-month low of $24.00 and a 12-month high of $43.33.

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 analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $170.64 million for the quarter, compared to analyst estimates of $160.01 million. The company's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Analysts predict that Appian will post -0.28 EPS for the current fiscal year.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of Appian by 89.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company's stock worth $36,000 after buying an additional 564 shares during the period. Concord Wealth Partners grew its position in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after purchasing an additional 461 shares during the last quarter. Globeflex Capital L P purchased a new stake in Appian during the 2nd quarter valued at about $90,000. Headlands Technologies LLC grew its position in Appian by 2,052.0% during the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock valued at $122,000 after purchasing an additional 4,022 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Appian by 456.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company's stock valued at $128,000 after purchasing an additional 3,513 shares during 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.

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