Appian (NASDAQ:APPN) Sets New 1-Year Low at $28.35

Shares of Appian Co. (NASDAQ:APPN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $28.35 and last traded at $29.06, with a volume of 459224 shares traded. The stock had previously closed at $36.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on APPN shares. William Blair reissued an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. Barclays lifted their price objective on Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, April 15th. KeyCorp lifted their price objective on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. DA Davidson dropped their price objective on Appian from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Finally, Citigroup lifted their price objective on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Appian currently has a consensus rating of “Moderate Buy” and an average target price of $48.86.

Appian Price Performance

The stock has a 50-day moving average price of $36.75 and a 200 day moving average price of $36.61. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -19.82 and a beta of 1.46.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The business had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million. As a group, equities research analysts forecast that Appian Co. will post -0.9 earnings per share for the current fiscal year.

Insider Transactions 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 sale, the insider now owns 5,890,304 shares in the company, valued at $191,081,461.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Appian

Several institutional investors have recently added to or reduced their stakes in the stock. Capstone Investment Advisors LLC acquired a new position in Appian in the 1st quarter valued at about $748,000. Baillie Gifford & Co. increased its position in Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after purchasing an additional 93,251 shares during the period. Concord Wealth Partners acquired a new position in Appian during the 1st quarter worth approximately $85,000. Principal Financial Group Inc. acquired a new position in Appian during the 1st quarter worth approximately $220,000. Finally, Los Angeles Capital Management LLC increased its position in Appian by 14.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock worth $930,000 after purchasing an additional 2,881 shares during the period. Institutional investors and hedge funds 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.