Barclays Boosts Appian (NASDAQ:APPN) Price Target to $34.00

Appian (NASDAQ:APPN) had its price target hoisted by Barclays from $29.00 to $34.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 17.30% from the company’s current price.

Several other analysts also recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.20.

Appian Stock Down 1.1 %

Shares of NASDAQ APPN traded down $0.45 on Friday, reaching $41.11. 176,371 shares of the company’s stock traded hands, compared to its average volume of 549,913. The business’s 50 day simple moving average is $33.01 and its two-hundred day simple moving average is $32.13. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -27.59 and a beta of 1.57.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.24. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The business had revenue of $154.05 million during the quarter, compared to analysts’ expectations of $150.94 million. Analysts forecast that Appian will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $33.75 per share, with a total value of $346,443.75. Following the completion of the acquisition, the insider now owns 10,179,538 shares in the company, valued at $343,559,407.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 819,276 shares of company stock worth $24,988,101 in the last ninety days. Insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of APPN. Allspring Global Investments Holdings LLC bought a new position in Appian in the 3rd quarter worth $29,000. Neo Ivy Capital Management bought a new position in shares of Appian in the second quarter worth about $65,000. Canada Pension Plan Investment Board purchased a new position in shares of Appian during the 2nd quarter valued at about $96,000. nVerses Capital LLC purchased a new position in shares of Appian during the 2nd quarter valued at about $105,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Appian during the 2nd quarter valued at approximately $121,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.