Appian Corporation (NASDAQ:APPN) had its price objective hoisted by equities research analysts at Canaccord Genuity from $18.00 to $19.00 in a research note issued on Friday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective would indicate a potential downside of 3.60% from the stock’s current price.

APPN has been the topic of a number of other reports. Barclays PLC initiated coverage on Appian Corporation in a research note on Monday, June 19th. They issued an “equal weight” rating and a $19.00 price target on the stock. Pacific Crest initiated coverage on Appian Corporation in a research report on Monday, June 19th. They set a “sector weight” rating on the stock. Cowen and Company initiated coverage on Appian Corporation in a research report on Monday, June 19th. They set an “outperform” rating on the stock. Morgan Stanley initiated coverage on Appian Corporation in a research report on Monday, June 19th. They set an “equal weight” rating and a $18.00 target price on the stock. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Appian Corporation in a research report on Monday, June 19th. They set a “neutral” rating and a $17.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Appian Corporation currently has an average rating of “Hold” and a consensus target price of $18.50.

Shares of Appian Corporation (NASDAQ APPN) traded down 5.42% during midday trading on Friday, reaching $19.71. The company had a trading volume of 418,620 shares. The company’s 50 day moving average price is $18.61 and its 200 day moving average price is $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 $675.54 million.

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In related news, major shareholder Qualified Master Fund L. Abdiel purchased 860,926 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was bought at an average cost of $18.08 per share, with a total value of $15,565,542.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel purchased 22,438 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $19.50 per share, with a total value of $437,541.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 2,281,562 shares of company stock valued at $42,231,262.

Institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP bought a new position in Appian Corporation during the second quarter worth $201,000. Spark Investment Management LLC bought a new position in Appian Corporation during the second quarter worth $2,355,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new position in Appian Corporation during the second quarter worth $5,282,000.

Appian Corporation Company Profile

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.

Analyst Recommendations for Appian Corporation (NASDAQ:APPN)

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