Appian Co. (NASDAQ:APPN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Appian Co. (NASDAQ:APPN) have been given an average rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $40.17.

A number of brokerages have issued reports on APPN. Barclays upped their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Scotiabank began coverage on Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. Finally, KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th.

Appian Stock Down 1.3 %

Shares of Appian stock opened at $29.68 on Friday. The company has a market cap of $2.20 billion, a PE ratio of -23.56 and a beta of 1.65. Appian has a 52 week low of $26.28 and a 52 week high of $43.33. The business has a 50 day moving average price of $32.84 and a 200-day moving average price of $34.20.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. Appian’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.06 earnings per share. As a group, research analysts anticipate that Appian will post -0.28 EPS for the current year.

Insider Buying and Selling at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, the director now directly owns 29,348 shares of the company’s stock, valued at $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 44.00% of the stock is owned by corporate insiders.

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently modified their holdings of APPN. Point72 Hong Kong Ltd purchased a new position in Appian in the 4th quarter valued at approximately $35,000. Canada Pension Plan Investment Board grew its position in shares of Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after purchasing an additional 3,498 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Appian during the 4th quarter worth about $181,000. Finally, FMR LLC boosted its stake in Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after purchasing an additional 3,953 shares during the period. Institutional investors own 52.70% of the company’s stock.

About Appian

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.