Appian (NASDAQ:APPN) Price Target Lowered to $32.00 at Barclays

Appian (NASDAQ:APPN) had its price objective decreased by Barclays from $36.00 to $32.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other brokerages have also commented on APPN. William Blair reissued an outperform rating on shares of Appian in a research note on Wednesday, March 20th. DA Davidson lowered their target price on Appian from $55.00 to $52.00 and set a buy rating on the stock in a report on Monday, March 4th. KeyCorp lifted their price target on Appian from $45.00 to $50.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Finally, 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 note on Friday, March 22nd. One research 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. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $46.43.

Appian Price Performance

NASDAQ:APPN traded up $0.95 during trading hours on Friday, hitting $31.98. The company’s stock had a trading volume of 795,544 shares, compared to its average volume of 577,887. Appian has a 52-week low of $28.22 and a 52-week high of $54.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The business’s 50-day moving average is $36.71 and its two-hundred day moving average is $36.58.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. The business had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. As a group, research analysts forecast that Appian will post -0.9 EPS for the current fiscal year.

Insider Transactions at Appian

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

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. Vanguard Group Inc. grew its stake in shares of Appian by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock valued at $176,602,000 after buying an additional 132,827 shares during the period. Hawk Ridge Capital Management LP grew its position in Appian by 14.5% during 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 acquiring an additional 236,230 shares during the period. Baillie Gifford & Co. grew its position in Appian by 5.6% during the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after acquiring an additional 93,251 shares during the period. First Trust Advisors LP increased its stake in Appian by 31.6% during the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after acquiring an additional 317,411 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Appian by 1.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 466,062 shares of the company’s stock valued at $17,552,000 after purchasing an additional 4,543 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.