Appian (NASDAQ:APPN) Reaches New 1-Year Low – Here’s What Happened

Appian Corporation (NASDAQ:APPN) reached a new 52-week low during trading on Thursday . The stock traded as low as $22.80 and last traded at $23.41, with a volume of 1969092 shares changing hands. The stock had previously closed at $26.28.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays cut their target price on shares of Appian from $37.00 to $34.00 and set an “underweight” rating on the stock in a report on Monday, January 12th. Zacks Research lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. TD Cowen reissued a “hold” rating on shares of Appian in a research report on Thursday, November 6th. DA Davidson began coverage on shares of Appian in a research note on Friday, November 7th. They issued a “hold” rating and a $38.00 price objective for the company. Finally, Citigroup reiterated a “buy” rating on shares of Appian in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $38.40.

Appian Stock Performance

The company has a market cap of $1.73 billion, a price-to-earnings ratio of -234.98 and a beta of 0.90. The business’s 50 day moving average price is $32.91 and its 200-day moving average price is $32.63.

Institutional Trading of Appian

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in Appian by 282.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock worth $25,000 after buying an additional 599 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Appian by 693.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after purchasing an additional 846 shares in the last quarter. Allworth Financial LP grew its stake in shares of Appian by 175.2% in the third quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after buying an additional 720 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Appian by 89.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock worth $36,000 after acquiring an additional 564 shares during the period. Finally, State of Wyoming raised its stake in Appian by 55.0% in the 4th quarter. State of Wyoming now owns 1,462 shares of the company’s stock valued at $52,000 after acquiring an additional 519 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.