Appian (NASDAQ:APPN) Stock Rating Upgraded by DA Davidson

DA Davidson upgraded shares of Appian (NASDAQ:APPN - Free Report) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

APPN has been the topic of a number of other reports. Morgan Stanley upped their price target on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Scotiabank lowered their price objective on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Barclays raised their target price on shares of Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Finally, Citigroup lifted their price target on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $36.29.

Appian Stock Down 1.5%

NASDAQ:APPN traded down $0.48 during mid-day trading on Monday, hitting $31.45. 526,983 shares of the stock traded hands, compared to its average volume of 563,459. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -24.96 and a beta of 1.75. Appian has a 52 week low of $24.00 and a 52 week high of $43.33. The firm's 50 day moving average is $30.02 and its two-hundred day moving average is $32.52.

Appian (NASDAQ:APPN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.43 million for the quarter, compared to analysts' expectations of $163.27 million. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that Appian will post -0.28 EPS for the current year.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $31.47, for a total transaction of $9,441,000.00. Following the completion of the transaction, the insider now directly owns 8,767,828 shares of the company's stock, valued at $275,923,547.16. The trade was a 3.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 2,141,195 shares of company stock valued at $67,441,394 in the last ninety days. Insiders own 43.00% of the company's stock.

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after acquiring an additional 53,172 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Appian in the 4th quarter valued at about $208,000. Handelsbanken Fonder AB raised its holdings in Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after purchasing an additional 1,100 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock worth $270,000 after buying an additional 400 shares during the period. Finally, Versor Investments LP purchased a new position in Appian during the fourth quarter valued at $574,000. Institutional investors and hedge funds own 52.70% of the company's stock.

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.