Brokerages Set Appian Corp (NASDAQ:APPN) PT at $41.20

Shares of Appian Corp (NASDAQ:APPN) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $42.00.

Several research analysts have recently commented on APPN shares. Needham & Company LLC started coverage on Appian in a research report on Tuesday, June 16th. They issued a “hold” rating for the company. Barclays reiterated a “hold” rating and issued a $37.00 target price on shares of Appian in a research report on Tuesday, March 17th. BidaskClub lowered Appian from a “buy” rating to a “hold” rating in a research report on Saturday. Goldman Sachs Group lifted their target price on Appian from $42.00 to $46.00 in a research report on Monday. Finally, Zacks Investment Research downgraded Appian from a “buy” rating to a “hold” rating in a report on Friday, June 19th.

In other Appian news, Director Albert G.W. Biddle III sold 8,000 shares of Appian stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $36.71, for a total transaction of $293,680.00. Following the sale, the director now owns 7,832 shares of the company’s stock, valued at approximately $287,512.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Steven Lynch sold 16,000 shares of Appian stock in a transaction on Monday, May 11th. The shares were sold at an average price of $50.16, for a total value of $802,560.00. Following the sale, the chief financial officer now directly owns 21,400 shares in the company, valued at approximately $1,073,424. The disclosure for this sale can be found here. Insiders have sold a total of 52,517 shares of company stock worth $2,565,872 in the last ninety days. 46.80% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. State Street Corp increased its position in shares of Appian by 3.8% during the 1st quarter. State Street Corp now owns 721,868 shares of the company’s stock valued at $29,041,000 after purchasing an additional 26,346 shares during the period. Twinbeech Capital LP acquired a new position in shares of Appian during the 1st quarter valued at $583,000. Advisor Group Holdings Inc. acquired a new position in shares of Appian during the 1st quarter valued at $1,206,000. Engineers Gate Manager LP increased its position in shares of Appian by 93.7% during the 1st quarter. Engineers Gate Manager LP now owns 20,719 shares of the company’s stock valued at $834,000 after purchasing an additional 10,025 shares during the period. Finally, Ashford Capital Management Inc. increased its position in shares of Appian by 10.0% during the 1st quarter. Ashford Capital Management Inc. now owns 189,210 shares of the company’s stock valued at $7,612,000 after purchasing an additional 17,210 shares during the period. Institutional investors own 40.19% of the company’s stock.

Shares of APPN stock traded up $1.13 during trading hours on Tuesday, reaching $51.25. The company had a trading volume of 499,867 shares, compared to its average volume of 1,164,758. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Appian has a twelve month low of $29.07 and a twelve month high of $64.72. The company has a market capitalization of $3.57 billion, a P/E ratio of -76.49 and a beta of 1.01. The stock’s fifty day simple moving average is $54.27 and its 200 day simple moving average is $46.73.

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

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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