Appian (NASDAQ:APPN) Given New $28.00 Price Target at DA Davidson

Appian (NASDAQ:APPN - Free Report) had its price objective reduced by DA Davidson from $40.00 to $28.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the stock. DA Davidson also issued estimates for Appian's FY2025 earnings at ($0.27) EPS and FY2026 earnings at $0.01 EPS.

Several other research analysts have also issued reports on the company. 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 report on Monday, January 6th. They set a "sector perform" rating and a $37.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $35.17.

Appian Stock Performance

Shares of NASDAQ APPN traded down $0.36 during trading on Monday, reaching $26.56. The company had a trading volume of 843,065 shares, compared to its average volume of 548,782. Appian has a 52 week low of $24.00 and a 52 week high of $43.33. The business's 50 day moving average price is $30.20 and its 200-day moving average price is $33.50. The stock has a market cap of $1.97 billion, a PE ratio of -21.08 and a beta of 1.78.

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

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction 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 sale, the director now owns 29,348 shares of the company's stock, valued at $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $27.02, for a total transaction of $137,883.06. Following the completion of the sale, the insider now directly owns 9,755,116 shares in the company, valued at $263,583,234.32. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,510 shares of company stock valued at $6,648,635. Company insiders own 44.00% of the company's stock.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Appian during the 4th quarter worth approximately $4,918,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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. grew its position 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. Voloridge Investment Management LLC increased its stake in Appian by 222.6% in the 4th quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company's stock valued at $6,034,000 after buying an additional 126,256 shares during the last quarter. Finally, Norges Bank bought a new stake in Appian during the 4th quarter worth about $4,046,000. 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.