Appian Corp (NASDAQ:APPN) Given Consensus Rating of “Hold” by Analysts

Shares of Appian Corp (NASDAQ:APPN) have earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $41.20.

Several brokerages have recently weighed in on APPN. Zacks Investment Research cut Appian from a “hold” rating to a “sell” rating in a report on Thursday, March 12th. Canaccord Genuity decreased their price objective on Appian from $44.00 to $40.00 and set a “hold” rating for the company in a report on Monday, February 24th. BidaskClub cut Appian from a “strong-buy” rating to a “buy” rating in a report on Saturday. Needham & Company LLC cut Appian from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Cowen raised their price objective on Appian from $42.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, February 21st.

APPN stock traded up $2.50 during trading hours on Friday, reaching $61.04. 892,456 shares of the stock were exchanged, compared to its average volume of 1,206,243. The firm’s 50-day moving average is $49.14 and its 200-day moving average is $45.26. The company has a market cap of $3.92 billion, a price-to-earnings ratio of -91.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Appian has a 12 month low of $29.07 and a 12 month high of $64.72.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.08. The firm had revenue of $78.86 million during the quarter, compared to analysts’ expectations of $70.32 million. Appian had a negative return on equity of 28.77% and a negative net margin of 15.61%. The company’s revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) EPS. As a group, equities research analysts forecast that Appian will post -0.89 earnings per share for the current year.

In other Appian news, Director Bobbie G. Kilberg sold 2,868 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $59.85, for a total transaction of $171,649.80. Following the completion of the sale, the director now directly owns 94,604 shares in the company, valued at $5,662,049.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Leon Mitchell sold 3,191 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $46.84, for a total transaction of $149,466.44. Following the sale, the vice president now owns 18,837 shares of the company’s stock, valued at $882,325.08. The disclosure for this sale can be found here. Insiders have sold 55,708 shares of company stock valued at $2,715,338 over the last 90 days. Company insiders own 46.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Appian by 127.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 981 shares of the company’s stock valued at $39,000 after buying an additional 550 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Appian by 129.1% in the first quarter. Prime Capital Investment Advisors LLC now owns 1,166 shares of the company’s stock valued at $47,000 after buying an additional 657 shares in the last quarter. Carmichael Hill & Associates Inc. acquired a new stake in shares of Appian in the fourth quarter valued at approximately $50,000. US Bancorp DE raised its position in shares of Appian by 48.4% in the first quarter. US Bancorp DE now owns 1,380 shares of the company’s stock valued at $56,000 after buying an additional 450 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Appian by 111.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,784 shares of the company’s stock valued at $68,000 after acquiring an additional 941 shares during the last quarter. Institutional investors own 40.19% of the company’s stock.

About Appian

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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Analyst Recommendations for Appian (NASDAQ:APPN)

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