Appian (NASDAQ:APPN) Price Target Raised to $36.00 at Barclays

Appian (NASDAQ:APPN - Free Report) had its price objective raised by Barclays from $35.00 to $36.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. William Blair restated an outperform rating on shares of Appian in a research report on Wednesday, March 20th. KeyCorp increased their price objective on shares of Appian from $45.00 to $50.00 and gave the stock an overweight rating in a research report on Friday, February 16th. Citigroup increased their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. Finally, DA Davidson cut their target price on shares of Appian from $55.00 to $52.00 and set a buy rating on the stock in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Appian presently has a consensus rating of Moderate Buy and an average price target of $48.86.

Appian Stock Performance

NASDAQ APPN traded down $0.48 during trading on Monday, reaching $37.99. The company's stock had a trading volume of 954,928 shares, compared to its average volume of 492,121. The firm has a 50 day moving average price of $36.10 and a 200 day moving average price of $37.17. Appian has a 12 month low of $30.87 and a 12 month high of $54.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -24.89 and a beta of 1.46.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.33. The business had revenue of $145.32 million during the quarter, compared to analysts' expectations of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. As a group, equities analysts anticipate that Appian will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the transaction, the insider now owns 5,890,304 shares of the company's stock, valued at $191,081,461.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 43.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its holdings in shares of Appian by 14.1% during the first quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company's stock worth $930,000 after purchasing an additional 2,881 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Appian during the fourth quarter worth about $210,000. Vanguard Group Inc. boosted its holdings in shares of Appian by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company's stock worth $176,602,000 after purchasing an additional 132,827 shares during the period. Barclays PLC lifted its holdings in Appian by 411.0% in the fourth quarter. Barclays PLC now owns 65,824 shares of the company's stock worth $2,478,000 after buying an additional 52,942 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in Appian by 77.8% in the fourth quarter. Voloridge Investment Management LLC now owns 148,701 shares of the company's stock worth $5,600,000 after buying an additional 65,075 shares during the period. Institutional investors 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.