Appian Co. (NASDAQ:APPN) Given Consensus Recommendation of "Hold" by Analysts

Shares of Appian Co. (NASDAQ:APPN - Get Free Report) have received an average recommendation of "Hold" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. 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. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.80.

A number of brokerages have recently commented on APPN. Scotiabank initiated coverage on Appian in a report on Monday, January 6th. They set a "sector perform" rating and a $37.00 price target for the company. Barclays upped their target price on shares of Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. Finally, KeyCorp restated a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th.

Appian Price Performance

Shares of NASDAQ APPN traded up $0.29 during trading hours on Friday, hitting $31.96. 389,096 shares of the stock were exchanged, compared to its average volume of 527,838. Appian has a one year low of $26.28 and a one year high of $43.33. The company's 50 day moving average is $32.75 and its 200 day moving average is $34.23. The firm has a market capitalization of $2.37 billion, a P/E ratio of -25.37 and a beta of 1.65.

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Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm's revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. Research analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the sale, the director now directly owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 44.00% of the company's stock.

Institutional Trading of Appian

Several institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in shares of Appian during the third quarter valued at $266,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Appian by 88.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company's stock worth $2,412,000 after purchasing an additional 33,232 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in Appian by 41.4% during the 3rd quarter. King Luther Capital Management Corp now owns 143,161 shares of the company's stock valued at $4,888,000 after purchasing an additional 41,922 shares during the last quarter. Intech Investment Management LLC acquired a new position in Appian in the third quarter valued at about $393,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Appian by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company's stock worth $11,432,000 after buying an additional 3,817 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company's stock.

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.