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

Appian (NASDAQ:APPN) had its price objective hoisted by Barclays from $35.00 to $36.00 in a report released on Monday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. William Blair restated an outperform rating on shares of Appian in a report on Wednesday, March 20th. DA Davidson reduced their target price on shares of Appian from $55.00 to $52.00 and set a buy rating for the company in a report on Monday, March 4th. Citigroup raised 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 raised their target price on shares of Appian from $45.00 to $50.00 and gave the stock an overweight rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $48.86.

Appian Trading Down 3.1 %

Appian stock opened at $35.39 on Monday. The firm has a 50 day simple moving average of $36.38 and a 200-day simple moving average of $37.05. 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 stock has a market capitalization of $2.60 billion, a PE ratio of -23.13 and a beta of 1.46. Appian has a 12-month low of $30.87 and a 12-month high of $54.26.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.33. The business had revenue of $145.32 million during the quarter, compared to analysts’ expectations of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. As a group, equities research analysts expect that Appian will post -0.98 EPS for the current fiscal year.

Insider Activity at Appian

In other Appian 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 completion of the sale, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 43.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Appian by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock worth $176,602,000 after buying an additional 132,827 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Appian by 7.7% during the 2nd quarter. BlackRock Inc. now owns 2,933,839 shares of the company’s stock valued at $139,651,000 after purchasing an additional 208,857 shares in the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of Appian by 14.5% during the 4th 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 in the last quarter. First Trust Advisors LP raised its holdings in shares of Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after purchasing an additional 317,411 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Appian by 2.5% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

About Appian

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.