Appian Co. (NASDAQ:APPN) Given Average Rating of "Moderate Buy" by Analysts

Shares of Appian Co. (NASDAQ:APPN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.86.

A number of analysts have recently weighed in on APPN shares. Citigroup upped their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, March 22nd. Barclays upped their price target on shares of Appian from $35.00 to $36.00 and gave the company an "underweight" rating in a report on Monday, April 15th. William Blair reiterated an "outperform" rating on shares of Appian in a research note on Wednesday, March 20th. DA Davidson decreased their target price on Appian from $55.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, March 4th. Finally, KeyCorp lifted their price target on Appian from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the sale, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 43.60% of the company's stock.

Hedge Funds Weigh In On Appian

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Appian by 2.9% in 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 in the last quarter. Hawk Ridge Capital Management LP grew its stake in shares of Appian by 14.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company's stock valued at $70,043,000 after purchasing an additional 236,230 shares during the period. First Trust Advisors LP lifted its position in shares of Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company's stock worth $49,812,000 after buying an additional 317,411 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Appian by 1.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 466,062 shares of the company's stock valued at $17,552,000 after buying an additional 4,543 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Appian in the third quarter valued at $14,884,000. 52.70% of the stock is owned by institutional investors.

Appian Stock Performance

Appian stock traded down $0.93 during mid-day trading on Tuesday, hitting $37.44. 456,624 shares of the company's stock were exchanged, compared to its average volume of 490,655. Appian has a 1-year low of $30.87 and a 1-year high of $54.26. The stock has a 50 day moving average of $36.64 and a two-hundred day moving average of $36.64. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.33. The business had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. On average, equities analysts expect that Appian will post -0.9 EPS for the current year.

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.