Appian (NASDAQ:APPN) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a report published on Saturday morning, BidAskClub reports.

A number of other equities analysts have also recently weighed in on APPN. Zacks Investment Research cut Appian from a buy rating to a hold rating in a report on Friday, June 19th. Morgan Stanley raised their price objective on Appian from $32.00 to $35.00 and gave the company an underweight rating in a report on Monday, May 11th. Barclays reissued a hold rating and set a $37.00 price objective on shares of Appian in a report on Tuesday, March 17th. Finally, Needham & Company LLC assumed coverage on Appian in a research note on Tuesday, June 16th. They issued a hold rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Appian presently has a consensus rating of Hold and an average target price of $45.00.

Shares of APPN opened at $51.25 on Friday. The company has a market cap of $3.57 billion, a PE ratio of -76.49 and a beta of 1.01. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $54.27 and a 200-day moving average price of $46.73. Appian has a 12-month low of $29.07 and a 12-month high of $64.72.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. The company had revenue of $78.86 million for the quarter, compared to analysts’ expectations of $70.32 million. Appian had a negative return on equity of 28.77% and a negative net margin of 15.61%. Appian’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) EPS. As a group, analysts predict that Appian will post -0.89 earnings per share for the current year.

In other news, Director Michael G. Devine sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $43.58, for a total transaction of $217,900.00. Following the transaction, the director now directly owns 13,955 shares of the company’s stock, valued at $608,158.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Prashanth Boccassam sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $63.47, for a total value of $190,410.00. Following the transaction, the director now directly owns 84,021 shares in the company, valued at $5,332,812.87. The disclosure for this sale can be found here. Insiders sold a total of 44,517 shares of company stock worth $2,272,192 over the last ninety days. Insiders own 46.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Appian by 3.8% during the first quarter. State Street Corp now owns 721,868 shares of the company’s stock valued at $29,041,000 after buying an additional 26,346 shares during the period. Twinbeech Capital LP purchased a new position in shares of Appian during the first quarter valued at approximately $583,000. Advisor Group Holdings Inc. purchased a new position in shares of Appian during the first quarter valued at approximately $1,206,000. Engineers Gate Manager LP increased its stake in shares of Appian by 93.7% during the first quarter. Engineers Gate Manager LP now owns 20,719 shares of the company’s stock valued at $834,000 after buying an additional 10,025 shares during the period. Finally, Ashford Capital Management Inc. increased its stake in shares of Appian by 10.0% during the first quarter. Ashford Capital Management Inc. now owns 189,210 shares of the company’s stock valued at $7,612,000 after buying an additional 17,210 shares during the period. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

About Appian

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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