Appian Corporation (NASDAQ:APPN) posted its earnings results on Thursday. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.09, reports. The company had revenue of $43.20 million for the quarter, compared to analysts’ expectations of $37.60 million.

Shares of Appian Corporation (NASDAQ:APPN) traded up 4.16% during midday trading on Monday, reaching $20.53. The company’s stock had a trading volume of 137,769 shares. The company has a 50 day moving average of $18.61 and a 200-day moving average of $18.56. Appian Corporation has a 52 week low of $14.60 and a 52 week high of $21.49. The stock’s market capitalization is $703.65 million.

Several brokerages have recently commented on APPN. Morgan Stanley began coverage on Appian Corporation in a report on Monday, June 19th. They set an “equal weight” rating and a $18.00 price objective for the company. Barclays PLC began coverage on Appian Corporation in a report on Monday, June 19th. They set an “equal weight” rating and a $19.00 price objective for the company. Canaccord Genuity began coverage on Appian Corporation in a report on Monday, June 19th. They set a “hold” rating and a $18.00 price objective for the company. Goldman Sachs Group, Inc. (The) began coverage on Appian Corporation in a report on Monday, June 19th. They set a “neutral” rating and a $17.00 price objective for the company. Finally, Cowen and Company began coverage on Appian Corporation in a report on Monday, June 19th. They set an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.50.

In other news, major shareholder Qualified Master Fund L. Abdiel purchased 227,529 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were acquired at an average cost of $18.51 per share, for a total transaction of $4,211,561.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel purchased 67,547 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were purchased at an average price of $18.48 per share, for a total transaction of $1,248,268.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,281,562 shares of company stock worth $42,231,262.

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About Appian Corporation

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

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