Appian (NASDAQ:APPN) Price Target Cut to $37.00 by Analysts at KeyCorp

Appian (NASDAQ:APPN) had its price target trimmed 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.

Several other equities research analysts have also recently commented on the company. William Blair reaffirmed an outperform rating on shares of Appian in a research report on Wednesday, March 20th. Citigroup increased their price objective on shares of Appian from $48.00 to $52.00 and gave the company a neutral rating in a research report on Friday, March 22nd. Barclays decreased their target price on shares of Appian from $36.00 to $32.00 and set an underweight rating for the company in a research note on Friday. Finally, DA Davidson dropped their price target on Appian from $55.00 to $52.00 and set a buy rating on the stock in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Appian presently has a consensus rating of Moderate Buy and a consensus price target of $46.43.

Appian Stock Performance

Appian stock traded up $0.95 during trading hours on Friday, hitting $31.98. The stock had a trading volume of 795,544 shares, compared to its average volume of 577,887. The stock’s 50-day moving average price is $36.71 and its 200-day moving average price is $36.58. Appian has a 12-month low of $28.22 and a 12-month 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 data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. The company had revenue of $145.32 million during the quarter, compared to analyst estimates of $140.41 million. Equities analysts predict that Appian will post -0.9 EPS for the current year.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Appian

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of Appian in the fourth quarter valued at about $47,000. Concord Wealth Partners bought a new position in Appian in the 1st quarter worth approximately $85,000. Atria Wealth Solutions Inc. purchased a new stake in Appian during the 3rd quarter valued at approximately $213,000. Quest Partners LLC bought a new stake in shares of Appian during the fourth quarter valued at approximately $177,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Appian by 16.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock worth $225,000 after buying an additional 695 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.