Appian (NASDAQ:APPN) Price Target Cut to $32.00 by Analysts at Barclays

Appian (NASDAQ:APPN) had its price objective decreased by Barclays from $36.00 to $32.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other brokerages have also recently issued reports on APPN. KeyCorp increased their target price on Appian from $45.00 to $50.00 and gave the stock an overweight rating in a report on Friday, February 16th. Citigroup raised their price objective on shares of Appian from $48.00 to $52.00 and gave the company a neutral rating in a research note on Friday, March 22nd. DA Davidson decreased their target price on shares of Appian from $55.00 to $52.00 and set a buy rating for the company in a research report on Monday, March 4th. Finally, William Blair restated an outperform rating on shares of Appian in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Appian currently has a consensus rating of Moderate Buy and an average target price of $46.43.

Appian Price Performance

Shares of NASDAQ APPN opened at $32.97 on Friday. The firm has a market capitalization of $2.42 billion, a P/E ratio of -22.43 and a beta of 1.46. The firm’s 50-day moving average price is $36.70 and its 200-day moving average price is $36.34. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. Appian has a 1-year low of $28.22 and a 1-year high of $54.26.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). The firm had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. Appian had a negative return on equity of 146.23% and a negative net margin of 19.20%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted ($0.42) earnings per share. Equities research analysts anticipate that Appian will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at Appian

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

Institutional Trading of Appian

A number of institutional investors and hedge funds have recently modified their holdings of APPN. Headlands Technologies LLC bought a new position in Appian in the 4th quarter valued at $47,000. Concord Wealth Partners purchased a new position in shares of Appian in the 1st quarter worth about $85,000. Atria Wealth Solutions Inc. bought a new position in Appian during the third quarter valued at about $213,000. Quest Partners LLC purchased a new stake in Appian during the fourth quarter worth about $177,000. Finally, Raymond James Financial Services Advisors Inc. raised 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 during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.