Appian's (APPN) Neutral Rating Reaffirmed at DA Davidson

Appian (NASDAQ:APPN - Get Free Report)'s stock had its "neutral" rating reiterated by DA Davidson in a research note issued to investors on Monday, Benzinga reports. They currently have a $33.00 price target on the stock. DA Davidson's price objective would indicate a potential upside of 3.51% from the company's previous close.

Several other brokerages also recently weighed in on APPN. William Blair downgraded Appian from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 1st. KeyCorp lowered shares of Appian from an "overweight" rating to a "sector weight" rating in a report on Friday, August 2nd. Barclays lowered their price objective on shares of Appian from $32.00 to $29.00 and set an "underweight" rating for the company in a research note on Monday, August 5th. Finally, The Goldman Sachs Group cut their target price on Appian from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $39.20.

Appian Stock Up 1.8 %

Shares of Appian stock traded up $0.57 during trading on Monday, hitting $31.88. 419,901 shares of the stock traded hands, compared to its average volume of 541,495. The firm's fifty day moving average is $31.72 and its 200-day moving average is $32.65. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -21.80 and a beta of 1.57. Appian has a 52 week low of $26.28 and a 52 week high of $44.28.

Appian (NASDAQ:APPN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business's quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.55) EPS. On average, analysts forecast that Appian will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 16th. The stock was bought at an average cost of $35.16 per share, with a total value of $1,406,400.00. Following the completion of the purchase, the insider now directly owns 7,085,647 shares in the company, valued at approximately $249,131,348.52. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 1,761,776 shares of company stock valued at $57,130,976. Corporate insiders own 44.00% of the company's stock.

Hedge Funds Weigh In On Appian

A number of institutional investors have recently added to or reduced their stakes in APPN. Vanguard Group Inc. grew its position in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company's stock worth $203,008,000 after buying an additional 392,190 shares during the period. Baillie Gifford & Co. increased its stake in shares of Appian by 5.6% during the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company's stock valued at $70,169,000 after purchasing an additional 93,251 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Appian by 70.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company's stock valued at $18,922,000 after purchasing an additional 196,435 shares during the last quarter. Empyrean Capital Partners LP purchased a new position in shares of Appian during the second quarter valued at approximately $7,715,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Appian in the 2nd quarter worth approximately $4,657,000. Institutional investors 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.