Analysts Set Appian Co. (NASDAQ:APPN) Price Target at $48.86

Appian Co. (NASDAQ:APPN) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $46.43.

Several equities research analysts have weighed in on the company. DA Davidson cut their price target on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Barclays dropped their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday. William Blair reiterated an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. KeyCorp lowered their target price on shares of Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Citigroup upped their price target on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd.

Appian Stock Performance

Shares of APPN stock opened at $31.98 on Tuesday. The business has a fifty day moving average of $36.71 and a 200 day moving average of $36.45. Appian has a 1 year low of $28.22 and a 1 year high of $54.26. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -21.75 and a beta of 1.46.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. The company had revenue of $145.32 million during the quarter, compared to analyst estimates of $140.41 million. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. As a group, research analysts expect that Appian will post -0.9 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 on Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, valued at approximately $191,081,461.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in Appian during the fourth quarter worth approximately $47,000. Concord Wealth Partners purchased a new stake in shares of Appian in the 1st quarter valued at approximately $85,000. Atria Wealth Solutions Inc. acquired a new position in shares of Appian in the 3rd quarter worth approximately $213,000. Quest Partners LLC purchased a new position in shares of Appian during the 4th quarter worth approximately $177,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Appian by 16.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock valued at $225,000 after purchasing an additional 695 shares during the last quarter. 52.70% of the stock is 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.