Appian (NASDAQ:APPN) Price Target Raised to $41.00 at KeyCorp

Appian (NASDAQ:APPN) had its target price lifted by research analysts at KeyCorp from $37.00 to $41.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 9.36% from the stock’s current price.

Separately, Barclays cut their target price on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Appian Trading Up 6.9 %

Shares of APPN stock opened at $37.49 on Wednesday. The company has a market cap of $2.71 billion, a P/E ratio of -25.50 and a beta of 1.48. The stock has a 50 day simple moving average of $30.87 and a two-hundred day simple moving average of $33.69. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $52.99.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $149.80 million for the quarter, compared to the consensus estimate of $149.78 million. Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.42) EPS. Research analysts forecast that Appian will post -1.38 earnings per share for the current year.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were acquired at an average cost of $30.94 per share, for a total transaction of $14,696,500.00. Following the purchase, the insider now directly owns 6,365,304 shares of the company’s stock, valued at $196,942,505.76. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Albert G.W. Biddle III bought 3,225 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $28.02 per share, for a total transaction of $90,364.50. Following the acquisition, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were bought at an average price of $30.94 per share, with a total value of $14,696,500.00. Following the completion of the acquisition, the insider now directly owns 6,365,304 shares in the company, valued at $196,942,505.76. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 966,568 shares of company stock worth $31,464,952. 44.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Appian

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Appian by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after buying an additional 147,785 shares during the period. GSA Capital Partners LLP bought a new position in shares of Appian in the 1st quarter worth approximately $1,708,000. Hawk Ridge Capital Management LP increased its position in Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock valued at $70,043,000 after buying an additional 236,230 shares in the last quarter. Roubaix Capital LLC bought a new position in Appian during the 4th quarter valued at approximately $2,190,000. Finally, SG Americas Securities LLC bought a new position in Appian during the 4th quarter valued at approximately $308,000. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.