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

Appian Co. (NASDAQ:APPN) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $39.20.

A number of equities analysts have weighed in on the stock. William Blair downgraded shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. DA Davidson downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Barclays reduced their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, August 5th.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 23,126 shares of Appian stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $31.24 per share, for a total transaction of $722,456.24. Following the acquisition, the insider now directly owns 9,882,783 shares in the company, valued at approximately $308,738,140.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 2,301,512 shares of company stock worth $73,987,795 in the last three months. Insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

Several large investors have recently added to or reduced their stakes in APPN. Vanguard Group Inc. lifted 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 purchasing an additional 392,190 shares during the period. Hawk Ridge Capital Management LP lifted its position in shares of Appian by 14.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares during the period. Baillie Gifford & Co. lifted its position in shares of Appian by 5.6% in the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after purchasing an additional 93,251 shares during the period. First Trust Advisors LP lifted its position in shares of Appian by 31.6% in the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after purchasing an additional 317,411 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Appian by 70.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after purchasing an additional 196,435 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Stock Down 4.2 %

APPN opened at $30.04 on Monday. The stock has a market cap of $2.17 billion, a PE ratio of -20.44 and a beta of 1.47. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.68. Appian has a 52 week low of $26.28 and a 52 week high of $52.99. The business’s fifty day simple moving average is $32.15 and its 200 day simple moving average is $33.18.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. During the same period in the prior year, the business posted ($0.55) earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. As a group, research analysts expect that Appian will post -1.07 earnings per share for the current fiscal 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.