Appian (NASDAQ:APPN) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, Marketbeat.com reports. The analysts noted that the move was a valuation call.

APPN has been the topic of a number of other reports. Morgan Stanley lowered shares of Appian from an “equal weight” rating to an “underweight” rating and set a $24.00 target price on the stock. in a report on Thursday, January 11th. Canaccord Genuity increased their target price on shares of Appian from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, October 30th. Cowen lowered shares of Appian from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a report on Monday, October 2nd. BidaskClub upgraded shares of Appian from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Finally, Zacks Investment Research lowered shares of Appian from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company. Appian currently has an average rating of “Hold” and a consensus price target of $23.57.

Appian (NASDAQ APPN) opened at $35.51 on Friday. Appian has a fifty-two week low of $14.60 and a fifty-two week high of $43.26.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, November 2nd. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.07. equities research analysts anticipate that Appian will post -0.61 earnings per share for the current fiscal year.

In other news, major shareholder Abdiel Capital Management, Llc acquired 5,258 shares of Appian stock in a transaction dated Monday, December 4th. The shares were acquired at an average cost of $20.48 per share, for a total transaction of $107,683.84. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder M James Barrett sold 569,620 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $19.49, for a total transaction of $11,101,893.80. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 1,051,519 shares of company stock worth $21,602,934 and sold 1,097,222 shares worth $21,384,857.

Institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new stake in shares of Appian in the 3rd quarter valued at $205,000. Tower Research Capital LLC TRC acquired a new stake in shares of Appian in the 2nd quarter valued at $238,000. Neuberger Berman Group LLC acquired a new stake in shares of Appian in the 2nd quarter valued at $292,000. Ameriprise Financial Inc. acquired a new stake in shares of Appian in the 2nd quarter valued at $323,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Appian in the 2nd quarter valued at $370,000. Institutional investors and hedge funds own 11.61% of the company’s stock.

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About Appian

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 (NASDAQ:APPN)

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