Appian (NASDAQ:APPN) Given New $37.00 Price Target at KeyCorp

Appian (NASDAQ:APPN) had its target price decreased by equities researchers at KeyCorp from $50.00 to $37.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 15.70% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Citigroup raised their price objective on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. William Blair reaffirmed an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. DA Davidson lowered their price objective on shares of Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Finally, Barclays cut their target price on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Appian presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.43.

Appian Trading Up 3.1 %

Shares of NASDAQ:APPN traded up $0.95 during trading on Friday, hitting $31.98. The company had a trading volume of 795,530 shares, compared to its average volume of 515,998. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -20.90 and a beta of 1.46. Appian has a one year low of $28.22 and a one year high of $54.26. The company has a fifty day simple moving average of $36.71 and a two-hundred day simple moving average of $36.58. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. The business had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. As a group, equities analysts forecast that Appian will post -0.9 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Appian

Several large investors have recently modified their holdings of APPN. Headlands Technologies LLC bought a new stake in shares of Appian during the 4th quarter worth $47,000. Concord Wealth Partners acquired a new position in Appian in the 1st quarter worth about $85,000. Atria Wealth Solutions Inc. acquired a new position in Appian in the third quarter worth approximately $213,000. Quest Partners LLC acquired a new stake in Appian in the fourth quarter valued at approximately $177,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Appian by 16.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock worth $225,000 after acquiring an additional 695 shares in the last quarter. 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.