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

by · The Cerbat Gem

Shares of Appian Co. (NASDAQ:APPN – Get Free Report) have been given a consensus recommendation of “Hold” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $39.20.

A number of equities research analysts recently weighed in on the company. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. William Blair cut Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their target price on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Barclays dropped their target price on shares of Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, August 5th.

Get Our Latest Stock Analysis on APPN

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average price of $32.91 per share, for a total transaction of $3,291,000.00. Following the completion of the transaction, the insider now directly owns 6,600,526 shares in the company, valued at $217,223,310.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 1,947,619 shares of company stock worth $63,162,789 over the last three months. 44.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new position in shares of Appian during the 2nd quarter valued at about $65,000. Concord Wealth Partners acquired a new stake in Appian during the first quarter worth about $85,000. Canada Pension Plan Investment Board purchased a new position in Appian during the second quarter valued at approximately $96,000. nVerses Capital LLC acquired a new position in Appian in the second quarter valued at approximately $105,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Appian in the 2nd quarter worth approximately $121,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Trading Down 0.1 %

NASDAQ:APPN opened at $34.00 on Friday. The firm has a 50-day simple moving average of $32.00 and a 200-day simple moving average of $32.95. Appian has a one year low of $26.28 and a one year high of $44.44. The firm has a market cap of $2.46 billion, a P/E ratio of -23.13 and a beta of 1.56. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24.

Appian (NASDAQ:APPN – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The company had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. Equities analysts anticipate that Appian will post -1.07 EPS for the current fiscal year.

Appian Company Profile

(Get Free Report

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.

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