Barclays Issues Positive Forecast for Appian (NASDAQ:APPN) Stock Price

Appian (NASDAQ:APPN) had its price objective boosted by Barclays from $29.00 to $34.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an underweight rating on the stock.

APPN has been the topic of a number of other reports. The Goldman Sachs Group lowered their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Appian in a research note on Monday, October 14th. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Finally, William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Appian presently has an average rating of “Hold” and a consensus target price of $40.20.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $40.78 on Friday. The firm has a 50 day simple moving average of $33.35 and a 200 day simple moving average of $32.21. Appian has a 52 week low of $26.28 and a 52 week high of $43.33. The company has a market cap of $2.95 billion, a PE ratio of -27.37 and a beta of 1.57.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.24. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The business had revenue of $154.05 million for the quarter, compared to the consensus estimate of $150.94 million. On average, equities analysts predict that Appian will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 1,486 shares of Appian stock in a transaction on Monday, September 16th. The stock was bought at an average price of $32.98 per share, with a total value of $49,008.28. Following the completion of the transaction, the insider now directly owns 10,088,411 shares of the company’s stock, valued at approximately $332,715,794.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders acquired 766,276 shares of company stock worth $23,508,341. Corporate insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APPN. Allspring Global Investments Holdings LLC bought a new stake in Appian during the third quarter valued at about $29,000. Neo Ivy Capital Management bought a new position in Appian during the second quarter valued at about $65,000. Canada Pension Plan Investment Board acquired a new position in Appian in the 2nd quarter valued at approximately $96,000. nVerses Capital LLC bought a new stake in shares of Appian in the 2nd quarter worth approximately $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Appian during the 2nd quarter worth approximately $121,000. 52.70% of the stock is owned by institutional investors.

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.