Appian (NASDAQ:APPN) Price Target Lowered to $37.00 at KeyCorp

Appian (NASDAQ:APPN) had its price objective cut by KeyCorp from $50.00 to $37.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. DA Davidson lowered their price target on Appian from $55.00 to $52.00 and set a buy rating for the company in a research report on Monday, March 4th. Barclays lowered their target price on shares of Appian from $36.00 to $32.00 and set an underweight rating for the company in a report on Friday. William Blair restated an outperform rating on shares of Appian in a report on Wednesday, March 20th. Finally, Citigroup upped their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $46.43.

Appian Stock Performance

Shares of Appian stock traded up $0.95 during trading hours on Friday, reaching $31.98. The company’s stock had a trading volume of 795,544 shares, compared to its average volume of 577,887. The stock’s fifty day simple moving average is $36.71 and its two-hundred day simple moving average is $36.58. Appian has a one year low of $28.22 and a one year high of $54.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. The business had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. On average, research analysts forecast that Appian will post -0.9 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 5,890,304 shares in the company, valued at $191,081,461.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 43.60% of the company’s stock.

Institutional Investors Weigh In On Appian

Several large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Appian in the 4th quarter valued at approximately $47,000. Concord Wealth Partners purchased a new position in shares of Appian in the first quarter valued at $85,000. Quest Partners LLC bought a new stake in shares of Appian during the 4th quarter valued at $177,000. Victory Capital Management Inc. lifted its holdings in Appian by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Appian in the 4th quarter worth about $210,000. 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.