Appian Co. (NASDAQ:APPN) Receives $48.86 Consensus PT from Brokerages

Shares of Appian Co. (NASDAQ:APPN) have earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $48.86.

APPN has been the topic of a number of analyst reports. KeyCorp increased their price target on shares of Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. William Blair reiterated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. DA Davidson decreased their price target on shares of Appian from $55.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. Citigroup raised their price objective on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Finally, Barclays boosted their target price on Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, April 15th.

Insider Activity

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’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 sale, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Appian by 3.4% during the third quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after buying an additional 147,785 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Appian during the 4th quarter worth approximately $308,000. Charles Schwab Investment Management Inc. boosted its position in shares of Appian by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 319,750 shares of the company’s stock worth $14,584,000 after acquiring an additional 9,900 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Appian during the 3rd quarter worth approximately $14,884,000. Finally, Graham Capital Management L.P. bought a new position in Appian in the third quarter valued at approximately $560,000. Institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

APPN stock opened at $31.03 on Tuesday. Appian has a twelve month low of $28.22 and a twelve month high of $54.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. The company has a market cap of $2.28 billion, a P/E ratio of -20.28 and a beta of 1.46. The business’s fifty day moving average is $36.71 and its 200-day moving average is $36.58.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The business had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. Equities research analysts forecast 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.