Appian (NASDAQ:APPN) Given New $73.00 Price Target at Barclays

Appian (NASDAQ:APPN) had its target price raised by Barclays from $69.00 to $73.00 in a report issued on Friday, The Fly reports. The brokerage currently has an equal weight rating on the stock. The analysts noted that the move was a valuation call.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Appian from a buy rating to a hold rating in a research report on Friday, August 21st. BidaskClub raised Appian from a buy rating to a strong-buy rating in a report on Wednesday, September 30th. Truist Financial lifted their price target on Appian from $46.00 to $52.00 and gave the stock a hold rating in a research note on Tuesday, August 11th. They noted that the move was a valuation call. Berenberg Bank downgraded Appian from a buy rating to a hold rating in a research note on Thursday, October 15th. Finally, Goldman Sachs Group lifted their target price on shares of Appian from $42.00 to $46.00 in a research note on Monday, June 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $50.78.

Shares of Appian stock opened at $70.81 on Friday. The firm has a 50-day simple moving average of $67.43 and a two-hundred day simple moving average of $55.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.09 and a current ratio of 3.09. Appian has a fifty-two week low of $29.07 and a fifty-two week high of $84.81. The company has a market cap of $4.95 billion, a P/E ratio of -102.62 and a beta of 0.98.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.13. The company had revenue of $66.78 million during the quarter, compared to analysts’ expectations of $61.24 million. Appian had a negative return on equity of 21.85% and a negative net margin of 16.47%. Appian’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. Equities research analysts forecast that Appian will post -0.75 EPS for the current year.

In other Appian news, insider Robert Charles Kramer sold 64,000 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $80.02, for a total transaction of $5,121,280.00. Following the sale, the insider now owns 96,391 shares in the company, valued at approximately $7,713,207.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael G. Devine sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $69.01, for a total value of $690,100.00. Following the transaction, the director now directly owns 19,653 shares of the company’s stock, valued at approximately $1,356,253.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,000 shares of company stock worth $6,830,800. Insiders own 46.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of APPN. Concorde Asset Management LLC acquired a new position in Appian in the 3rd quarter valued at about $1,144,000. NEXT Financial Group Inc purchased a new stake in shares of Appian during the third quarter worth about $138,000. Wedbush Securities Inc. raised its position in shares of Appian by 13.3% in the third quarter. Wedbush Securities Inc. now owns 9,002 shares of the company’s stock valued at $583,000 after buying an additional 1,058 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Appian by 178.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,325 shares of the company’s stock valued at $86,000 after buying an additional 850 shares during the period. Finally, CWM LLC lifted its stake in shares of Appian by 85.7% during the third quarter. CWM LLC now owns 99,199 shares of the company’s stock valued at $6,423,000 after buying an additional 45,782 shares during the period. Hedge funds and other institutional investors own 40.75% of the company’s stock.

Appian Company Profile

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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