Appian Corp (NASDAQ:APPN) Receives Consensus Recommendation of “Hold” from Analysts

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Appian Corp (NASDAQ:APPN) has been given a consensus rating of “Hold” by the eight analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $32.35.

Several research firms have commented on APPN. BidaskClub cut shares of Amyris from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Morgan Stanley set a $123.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 23rd. Barclays reiterated a “buy” rating on shares of NXP Semiconductors in a report on Sunday, May 5th. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, William Blair reiterated an “outperform” rating on shares of NuCana in a report on Thursday, May 16th.

NASDAQ APPN traded down $0.25 on Tuesday, hitting $38.22. 275,382 shares of the stock were exchanged, compared to its average volume of 800,124. Appian has a fifty-two week low of $22.61 and a fifty-two week high of $39.92. The firm has a market cap of $2.47 billion, a P/E ratio of -47.78 and a beta of 1.40. The firm has a 50-day simple moving average of $35.46.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). Appian had a negative net margin of 24.48% and a negative return on equity of 91.41%. The company had revenue of $59.58 million during the quarter, compared to analysts’ expectations of $59.71 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The firm’s revenue was up 15.2% on a year-over-year basis. On average, analysts predict that Appian will post -0.83 earnings per share for the current fiscal year.

In other news, major shareholder Abdiel Capital Management, Llc sold 16,782 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $36.40, for a total value of $610,864.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Steven Lynch sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $34.14, for a total transaction of $512,100.00. Following the completion of the transaction, the chief financial officer now owns 16,950 shares of the company’s stock, valued at approximately $578,673. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,964 shares of company stock valued at $4,823,799. Company insiders own 50.00% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC raised its stake in shares of Appian by 83.3% during the second quarter. Valeo Financial Advisors LLC now owns 836 shares of the company’s stock valued at $30,000 after purchasing an additional 380 shares during the period. Cortina Asset Management LLC raised its stake in shares of Appian by 2.6% during the second quarter. Cortina Asset Management LLC now owns 603,737 shares of the company’s stock valued at $21,777,000 after purchasing an additional 15,137 shares during the period. Weaver Consulting Group purchased a new stake in shares of Appian during the first quarter valued at approximately $25,000. Marshall Wace North America L.P. purchased a new stake in shares of Appian during the first quarter valued at approximately $1,351,000. Finally, Marshall Wace LLP purchased a new stake in shares of Appian during the first quarter valued at approximately $2,921,000. Institutional investors and hedge funds own 28.68% 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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