Barclays Cuts Appian (NASDAQ:APPN) Price Target to $47.00

Appian (NASDAQ:APPN) had its price objective lowered by Barclays from $90.00 to $47.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has an underweight rating on the stock.

Several other analysts have also recently commented on the company. Truist Securities lowered their target price on Appian from $116.00 to $100.00 and set a buy rating on the stock in a research report on Friday, December 17th. Needham & Company LLC lowered their target price on Appian from $186.00 to $170.00 and set a buy rating on the stock in a research report on Friday, November 5th. Zacks Investment Research cut Appian from a hold rating to a sell rating in a research report on Friday, November 12th. Truist upgraded Appian from a hold rating to a buy rating and raised their target price for the company from $105.00 to $116.00 in a research report on Monday, November 8th. Finally, Morgan Stanley upgraded Appian from an underweight rating to an equal weight rating and lowered their price target for the company from $95.00 to $87.00 in a research report on Friday, December 3rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Appian has an average rating of Hold and a consensus price target of $111.43.

Shares of Appian stock opened at $55.62 on Wednesday. The business’s 50 day simple moving average is $73.12 and its 200-day simple moving average is $95.73. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of -56.75 and a beta of 1.72. Appian has a twelve month low of $53.03 and a twelve month high of $260.00.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, November 4th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Appian had a negative net margin of 20.00% and a negative return on equity of 21.63%. The business had revenue of $92.42 million during the quarter, compared to analyst estimates of $91.06 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s revenue was up 19.6% compared to the same quarter last year. As a group, research analysts forecast that Appian will post -1.06 EPS for the current year.

In related news, Director Michael G. Devine acquired 400 shares of Appian stock in a transaction dated Monday, November 22nd. The stock was acquired at an average cost of $76.08 per share, with a total value of $30,432.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Steven Lynch sold 5,065 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $96.81, for a total value of $490,342.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,120 shares of company stock valued at $1,173,619. Corporate insiders own 43.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Lumature Wealth Partners LLC acquired a new stake in shares of Appian in the third quarter worth $56,000. Signaturefd LLC boosted its position in shares of Appian by 23.7% in the third quarter. Signaturefd LLC now owns 715 shares of the company’s stock worth $66,000 after buying an additional 137 shares during the period. Penserra Capital Management LLC acquired a new stake in Appian during the third quarter valued at $69,000. Parisi Gray Wealth Management acquired a new stake in Appian during the second quarter valued at $74,000. Finally, Focused Wealth Management Inc acquired a new stake in Appian during the third quarter valued at $74,000. 39.37% of the stock is owned by institutional investors and hedge funds.

About Appian

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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