Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services. It serves to financial services, government, life sciences, insurance, manufacturing, energy, healthcare, telecommunications, and transportation industries. The company was incorporated in 1999 and is headquartered in McLean, Virginia.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Appian in a report on Wednesday, April 27th. They set a "buy" rating and a $70.00 price target for the company. Barclays decreased their price target on Appian from $47.00 to $42.00 and set an "underweight" rating for the company in a report on Tuesday, April 19th. Finally, Berenberg Bank started coverage on Appian in a report on Friday, June 10th. They set a "buy" rating and a $63.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.33.
Appian Price Performance
APPN Stock opened at $55.25 on Tuesday. The stock has a market capitalization of $4.00 billion, a PE ratio of -32.12 and a beta of 1.61. The company's 50-day moving average is $49.05 and its 200-day moving average is $52.44. Appian has a 1 year low of $38.78 and a 1 year high of $115.68.
Appian (NASDAQ:APPN - Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. Appian had a negative net margin of 29.34% and a negative return on equity of 37.92%. The business had revenue of $110.06 million for the quarter, compared to analysts' expectations of $103.97 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm's revenue for the quarter was up 32.6% compared to the same quarter last year. On average, analysts anticipate that Appian will post -1.07 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder Abdiel Capital Management, Llc bought 50,000 shares of the company's stock in a transaction on Tuesday, May 17th. The shares were purchased at an average price of $51.67 per share, with a total value of $2,583,500.00. Following the transaction, the insider now directly owns 7,700,034 shares in the company, valued at $397,860,756.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 358,568 shares of company stock valued at $16,311,594 in the last 90 days. 43.90% of the stock is currently owned by corporate insiders.