Appian Co. (NASDAQ:APPN) Receives Consensus Rating of “Hold” from Analysts

Shares of Appian Co. (NASDAQ:APPN) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $40.17.

A number of research firms have commented on APPN. KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Scotiabank assumed coverage on Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective for the company. Finally, Barclays lifted their price objective on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th.

Insider Activity

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the transaction, the director now owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares in the company, valued at $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

A number of institutional investors and hedge funds have recently modified their holdings of the company. Abdiel Capital Advisors LP lifted its holdings in Appian by 72.6% during the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after buying an additional 4,278,969 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Appian during the 4th quarter worth about $4,918,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Appian by 184.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock worth $6,637,000 after purchasing an additional 130,606 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Appian by 418.8% in the fourth quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock valued at $5,303,000 after purchasing an additional 129,800 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its stake in Appian by 222.6% in the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock valued at $6,034,000 after purchasing an additional 126,256 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Stock Up 0.2 %

NASDAQ:APPN opened at $32.47 on Monday. Appian has a 52 week low of $26.28 and a 52 week high of $43.33. The company has a market capitalization of $2.77 billion, a P/E ratio of -25.77 and a beta of 1.64. The stock’s fifty day moving average is $33.83 and its two-hundred day moving average is $34.27.

Appian (NASDAQ:APPN) last posted its earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same quarter in the prior year, the firm earned $0.06 EPS. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. Sell-side analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

About Appian

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.