Appian Corporation (APPN) Receives Consensus Recommendation of “Hold” from Brokerages
Appian Corporation (NASDAQ:APPN) has received an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.80.
Several analysts have weighed in on APPN shares. Zacks Investment Research upgraded Appian Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, September 13th. Morgan Stanley boosted their price target on Appian Corporation from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Barclays PLC reiterated an “equal weight” rating and set a $20.00 price target (up previously from $19.00) on shares of Appian Corporation in a research note on Friday, August 4th. KeyCorp reiterated a “hold” rating on shares of Appian Corporation in a research note on Monday, September 18th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Appian Corporation in a research note on Monday, November 6th.
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Appian Corporation (APPN) traded down $0.98 during trading on Thursday, reaching $21.24. The company’s stock had a trading volume of 299,300 shares, compared to its average volume of 232,009. Appian Corporation has a twelve month low of $14.60 and a twelve month high of $28.65.
In related news, major shareholder Qualified Master Fund L. Abdiel acquired 65,533 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was acquired at an average price of $22.23 per share, with a total value of $1,456,798.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 28,800 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was bought at an average cost of $22.14 per share, with a total value of $637,632.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 146,376 shares of company stock worth $3,249,007.
Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN acquired a new position in shares of Appian Corporation in the 2nd quarter valued at about $2,162,000. Eagle Asset Management Inc. acquired a new position in shares of Appian Corporation in the 2nd quarter valued at about $2,716,000. Abdiel Capital Advisors LP acquired a new position in shares of Appian Corporation in the 2nd quarter valued at about $56,982,000. Spark Investment Management LLC acquired a new position in Appian Corporation in the 2nd quarter worth about $2,355,000. Finally, Lord Abbett & CO. LLC acquired a new position in Appian Corporation in the 2nd quarter worth about $8,134,000. 11.53% of the stock is owned by institutional investors and hedge funds.
Appian Corporation Company Profile
Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.
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