Berenberg Bank cut shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a research report released on Thursday morning, Anlyst Ratings reports.

Several other research analysts have also recently commented on APPN. Zacks Investment Research cut shares of Appian from a buy rating to a hold rating in a research report on Friday, August 21st. Goldman Sachs Group upped their target price on shares of Appian from $42.00 to $46.00 in a research report on Monday, June 29th. BidaskClub upgraded shares of Appian from a buy rating to a strong-buy rating in a research report on Wednesday, September 30th. Morgan Stanley upped their target price on shares of Appian from $35.00 to $38.00 and gave the stock an underweight rating in a research report on Monday, August 17th. Finally, Truist Financial upped their target price on shares of Appian from $46.00 to $52.00 and gave the stock a hold rating in a research report on Tuesday, August 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $50.33.

Shares of Appian stock opened at $81.76 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.09 and a quick ratio of 3.09. Appian has a 1 year low of $29.07 and a 1 year high of $84.81. The company has a market capitalization of $5.71 billion, a P/E ratio of -118.49 and a beta of 0.98. The business has a 50 day moving average price of $63.37 and a 200 day moving average price of $52.80.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. Appian had a negative return on equity of 21.85% and a negative net margin of 16.47%. The firm had revenue of $66.78 million during the quarter, compared to the consensus estimate of $61.24 million. During the same period in the previous year, the firm posted ($0.11) EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Appian will post -0.75 EPS for the current fiscal year.

In other Appian news, Director Michael G. Devine sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.53, for a total value of $242,650.00. Also, insider Robert Charles Kramer sold 64,000 shares of the stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $80.02, for a total transaction of $5,121,280.00. Following the completion of the sale, the insider now owns 96,391 shares of the company’s stock, valued at approximately $7,713,207.82. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock valued at $6,978,430 over the last quarter. Insiders own 50.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in APPN. Evolution Wealth Advisors LLC bought a new position in shares of Appian during the 3rd quarter valued at $25,000. Toth Financial Advisory Corp acquired a new position in shares of Appian in the second quarter valued at about $26,000. Truvestments Capital LLC grew its stake in shares of Appian by 1,200.0% in the second quarter. Truvestments Capital LLC now owns 546 shares of the company’s stock valued at $27,000 after acquiring an additional 504 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Appian by 180.7% in the second quarter. Parallel Advisors LLC now owns 654 shares of the company’s stock valued at $33,000 after acquiring an additional 421 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in shares of Appian in the second quarter valued at about $33,000. Institutional investors and hedge funds own 40.75% of the company’s stock.

Appian Company Profile

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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Analyst Recommendations for Appian (NASDAQ:APPN)

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