Barclays Increases Appian (NASDAQ:APPN) Price Target to $36.00

Appian (NASDAQ:APPN) had its price objective increased by analysts at Barclays from $35.00 to $36.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target indicates a potential downside of 1.42% from the company’s previous close.

A number of other research analysts have also recently commented on APPN. DA Davidson cut their target price on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. William Blair reiterated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Citigroup increased their target price on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Finally, KeyCorp increased their price objective on shares of Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.86.

Appian Price Performance

Shares of NASDAQ:APPN opened at $36.52 on Monday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -23.87 and a beta of 1.46. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50-day simple moving average of $36.31 and a two-hundred day simple moving average of $37.06. Appian has a fifty-two week low of $30.87 and a fifty-two week high of $54.26.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. The business had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. On average, analysts expect that Appian will post -0.98 earnings per share for the current year.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the transaction, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Appian by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock valued at $176,602,000 after purchasing an additional 132,827 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Appian by 7.7% in the 2nd quarter. BlackRock Inc. now owns 2,933,839 shares of the company’s stock worth $139,651,000 after acquiring an additional 208,857 shares during the last quarter. Hawk Ridge Capital Management LP raised its position in Appian by 14.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock valued at $70,043,000 after purchasing an additional 236,230 shares during the period. First Trust Advisors LP increased its position in shares of Appian by 31.6% during the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after acquiring an additional 317,411 shares during the period. Finally, State Street Corp boosted its holdings in Appian by 2.5% in the second quarter. State Street Corp now owns 873,935 shares of the company’s stock valued at $41,599,000 after purchasing an additional 21,046 shares during the period. 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.