Appian (NASDAQ:APPN) Trading Up 5.7% - What's Next?

Key Points

• Appian shares rose 5.7% to $36.74 in mid-day trading, although volume was about 90% below the average daily level. The stock’s 50-day and 200-day moving averages were $32.02 and $26.33, respectively.
• Analyst sentiment remains mixed: Appian has an average “Hold” rating and a $31 average price target, despite recent target increases from Citigroup, DA Davidson and Morgan Stanley.
• The company reported quarterly revenue of $203.26 million, up 19.1% year over year and above estimates, while posting $0.13 in EPS. CEO Matthew Calkins sold 45,000 shares under a pre-arranged trading plan, and insiders and institutional investors own 42.81% and 52.70% of the stock, respectively.

Shares of Appian Corporation (NASDAQ:APPN - Get Free Report) traded up 5.7% during mid-day trading on Monday . The company traded as high as $37.13 and last traded at $36.7390. Approximately 99,025 shares changed hands during trading, a decline of 90% from the average daily volume of 962,358 shares. The stock had previously closed at $34.76.

Analyst Ratings Changes

A number of equities analysts have recently commented on APPN shares. Weiss Ratings upgraded Appian from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 3rd. Zacks Research upgraded Appian from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. DA Davidson raised their price target on Appian from $34.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Morgan Stanley lifted their price objective on shares of Appian from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Finally, Citigroup boosted their price objective on shares of Appian from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Appian currently has an average rating of "Hold" and an average target price of $31.00.

Appian Stock Up 6.2%

The stock has a market cap of $2.64 billion, a P/E ratio of -246.06 and a beta of 0.94. The business has a 50 day moving average price of $32.02 and a 200 day moving average price of $26.33.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter. Appian had a negative return on equity of 35.20% and a negative net margin of 1.34%.The firm had revenue of $203.26 million during the quarter, compared to analyst estimates of $193.38 million. Appian's quarterly revenue was up 19.1% compared to the same quarter last year. Appian has set its FY 2026 guidance at 1.040-1.120 EPS and its Q3 2026 guidance at 0.310-0.350 EPS. On average, research analysts expect that Appian Corporation will post 0.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Matthew Calkins sold 45,000 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $35.19, for a total transaction of $1,583,550.00. Following the completion of the sale, the chief executive officer directly owned 1,629,144 shares of the company's stock, valued at approximately $57,329,577.36. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 42.81% of the company's stock.

Institutional Investors Weigh In On Appian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RPD Fund Management LLC bought a new stake in shares of Appian during the first quarter valued at approximately $94,496,000. Lead Edge Capital Management LLC raised its position in Appian by 18.5% during the 1st quarter. Lead Edge Capital Management LLC now owns 1,905,634 shares of the company's stock valued at $45,945,000 after purchasing an additional 296,845 shares in the last quarter. Cinctive Capital Management LP lifted its holdings in shares of Appian by 59.0% in the 4th quarter. Cinctive Capital Management LP now owns 295,603 shares of the company's stock worth $10,470,000 after buying an additional 109,682 shares during the period. First Trust Advisors LP grew its position in shares of Appian by 16.9% during the 1st quarter. First Trust Advisors LP now owns 1,355,961 shares of the company's stock worth $32,692,000 after buying an additional 196,021 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Appian during the second quarter valued at $1,407,000. Institutional investors own 52.70% of the company's stock.

About Appian

Appian Corporation develops enterprise software designed to help organizations build applications and automate business processes. Its low-code platform enables users to design, deploy and manage applications with limited traditional programming, supporting workflow automation, process orchestration, case management and business process improvement.

The Appian Platform combines application development tools with data management, artificial intelligence, robotic process automation and process-mining capabilities.

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