Appian (NASDAQ:APPN) Price Target Increased to $36.00 by Analysts at Barclays

Appian (NASDAQ:APPN) had its price objective increased by Barclays from $35.00 to $36.00 in a report published on Monday, Benzinga reports. The firm currently has an underweight rating on the stock.

Other research analysts have also issued research reports about the company. DA Davidson cut their price objective on Appian from $55.00 to $52.00 and set a buy rating for the company in a research report on Monday, March 4th. William Blair restated an outperform rating on shares of Appian in a research report on Wednesday, March 20th. Citigroup raised their price objective on Appian from $48.00 to $52.00 and gave the company a neutral rating in a research report on Friday, March 22nd. Finally, KeyCorp raised their price objective on Appian from $45.00 to $50.00 and gave the company an overweight rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Appian currently has a consensus rating of Moderate Buy and a consensus price target of $48.86.

Appian Trading Down 1.5 %

Shares of APPN stock opened at $34.86 on Monday. Appian has a 52-week low of $30.87 and a 52-week high of $54.26. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $2.56 billion, a PE ratio of -22.78 and a beta of 1.46. The stock has a fifty day simple moving average of $36.42 and a two-hundred day simple moving average of $37.03.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The business had revenue of $145.32 million during the quarter, compared to analyst estimates of $140.41 million. On average, analysts predict that Appian will post -0.98 EPS for the current fiscal year.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now owns 5,890,304 shares of the company’s stock, valued at approximately $191,081,461.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 43.60% of the stock is owned by insiders.

Institutional Trading of Appian

Several institutional investors have recently added to or reduced their stakes in APPN. Raymond James & Associates lifted its stake in Appian by 15.2% in the first quarter. Raymond James & Associates now owns 3,816 shares of the company’s stock worth $232,000 after purchasing an additional 503 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Appian by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 166,769 shares of the company’s stock valued at $10,142,000 after acquiring an additional 501 shares in the last quarter. US Bancorp DE raised its stake in shares of Appian by 8.1% during the first quarter. US Bancorp DE now owns 5,838 shares of the company’s stock valued at $355,000 after acquiring an additional 439 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Appian by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock valued at $153,000 after acquiring an additional 305 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Appian during the first quarter valued at approximately $962,000. Institutional investors own 52.70% of the company’s stock.

About Appian

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.