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

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

APPN has been the subject of several other research reports. Citigroup upped their price target on shares of Appian from $48.00 to $52.00 and gave the company a neutral rating in a report on Friday, March 22nd. DA Davidson reduced their price target 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. William Blair reissued an outperform rating on shares of Appian in a research report on Wednesday, March 20th. Finally, KeyCorp boosted their price objective on shares of Appian from $45.00 to $50.00 and gave the stock an overweight rating in a research report on Friday, February 16th. One 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. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $48.86.

Appian Stock Down 3.1 %

Shares of NASDAQ APPN opened at $35.39 on Monday. The stock has a market cap of $2.60 billion, a P/E ratio of -23.13 and a beta of 1.46. Appian has a 52-week low of $30.87 and a 52-week high of $54.26. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average price of $36.38 and a 200 day moving average price of $37.05.

Appian (NASDAQ:APPN) last released 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 company 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%. Analysts expect that Appian will post -0.98 EPS for the current year.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the sale, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 43.60% of the stock is currently owned by insiders.

Institutional Trading of Appian

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPN. Lord Abbett & CO. LLC bought a new stake in Appian during the third quarter worth $14,884,000. First Trust Advisors LP increased its holdings in shares of Appian by 31.6% in the fourth 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 during the last quarter. Norges Bank acquired a new position in shares of Appian in the fourth quarter valued at $10,534,000. Hawk Ridge Capital Management LP increased its holdings in shares of Appian by 14.5% in the fourth 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 during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Appian in the first quarter valued at $13,983,000. 52.70% of the stock is owned by institutional investors.

Appian Company Profile

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.