Appian Co. (NASDAQ:APPN) Given Average Rating of "Hold" by Analysts

Appian Co. (NASDAQ:APPN - Get Free Report) has been given an average recommendation of "Hold" by the six analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $39.20.

Several equities analysts have weighed in on the stock. DA Davidson restated a "neutral" rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. The Goldman Sachs Group cut their price objective on Appian from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. William Blair cut Appian from an "outperform" rating to a "market perform" rating in a report on Thursday, August 1st. KeyCorp cut Appian from an "overweight" rating to a "sector weight" rating in a report on Friday, August 2nd. Finally, Barclays decreased their price objective on Appian from $32.00 to $29.00 and set an "underweight" rating on the stock in a research note on Monday, August 5th.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 150,000 shares of the company's stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $37.76 per share, with a total value of $5,664,000.00. Following the purchase, the insider now directly owns 7,805,847 shares in the company, valued at $294,748,782.72. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders acquired 1,459,276 shares of company stock worth $46,484,701. 44.00% of the stock is currently owned by insiders.

Institutional Trading of Appian

Several institutional investors have recently made changes to their positions in APPN. Allspring Global Investments Holdings LLC purchased a new position in Appian in the third quarter valued at approximately $29,000. Neo Ivy Capital Management purchased a new position in shares of Appian in the 2nd quarter valued at $65,000. Concord Wealth Partners purchased a new position in shares of Appian in the 1st quarter valued at $85,000. Canada Pension Plan Investment Board purchased a new stake in Appian during the 2nd quarter worth $96,000. Finally, nVerses Capital LLC acquired a new stake in Appian in the 2nd quarter valued at $105,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Price Performance

Shares of NASDAQ APPN traded up $0.06 during trading on Tuesday, hitting $31.07. 312,120 shares of the company were exchanged, compared to its average volume of 549,756. Appian has a 1 year low of $26.28 and a 1 year high of $42.99. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -21.10 and a beta of 1.57. The firm's fifty day moving average price is $32.10 and its 200 day moving average price is $32.35.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.05. The business had revenue of $146.50 million for the quarter, compared to analysts' expectations of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The company's revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.55) EPS. On average, research analysts forecast that Appian will post -1.07 earnings per share for the current year.

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.