Appian Co. (NASDAQ:APPN) Receives $40.17 Average Price Target from Brokerages

Shares of Appian Co. (NASDAQ:APPN) have received an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $40.17.

Several equities research analysts have recently commented on the company. Barclays lifted their target price on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. DA Davidson reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. Scotiabank started coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. Finally, KeyCorp restated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th.

Insider Activity at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the transaction, the director now owns 7,966 shares in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 44.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Appian

A number of hedge funds and other institutional investors have recently modified their holdings of APPN. Handelsbanken Fonder AB raised its holdings in Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after acquiring an additional 1,100 shares during the period. Entropy Technologies LP purchased a new stake in Appian during the fourth quarter valued at about $208,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Appian by 18.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock worth $1,081,000 after purchasing an additional 4,813 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Appian during the third quarter worth about $291,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Appian by 0.6% during the third quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after purchasing an additional 5,772 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Price Performance

Appian stock opened at $34.69 on Thursday. The company has a market capitalization of $2.96 billion, a PE ratio of -28.43 and a beta of 1.64. Appian has a one year low of $26.28 and a one year high of $43.33. The business has a 50 day simple moving average of $35.54 and a 200 day simple moving average of $34.18.

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.