Appian (NASDAQ:APPN) Stock Price Up 6.1%

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Appian Corp (NASDAQ:APPN) rose 6.1% on Friday . The company traded as high as $60.29 and last traded at $59.54, approximately 1,254,267 shares changed hands during mid-day trading. An increase of 121% from the average daily volume of 567,611 shares. The stock had previously closed at $56.13.

APPN has been the subject of a number of research analyst reports. Barclays set a $41.00 target price on shares of Appian and gave the stock a “hold” rating in a research note on Friday, August 9th. William Blair raised shares of Appian from a “market perform” rating to an “outperform” rating and set a $35.10 target price for the company in a research note on Thursday, May 16th. Zacks Investment Research raised shares of Appian from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. SunTrust Banks boosted their target price on shares of Appian from $32.00 to $46.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, BidaskClub raised shares of Appian from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Appian has a consensus rating of “Hold” and an average target price of $36.87.

The company has a market capitalization of $3.64 billion, a P/E ratio of -74.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.32 and a quick ratio of 1.44. The stock’s 50 day simple moving average is $40.53 and its two-hundred day simple moving average is $36.24.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.07. Appian had a negative net margin of 23.12% and a negative return on equity of 80.44%. The company had revenue of $66.90 million during the quarter, compared to the consensus estimate of $63.44 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts expect that Appian Corp will post -0.76 earnings per share for the current year.

In other news, major shareholder Abdiel Capital Management, Llc sold 16,782 shares of Appian stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $36.40, for a total transaction of $610,864.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Albert G.W. Biddle III sold 43,994 shares of Appian stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.03, for a total transaction of $1,585,103.82. Following the sale, the director now owns 6,088 shares of the company’s stock, valued at approximately $219,350.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,829 shares of company stock valued at $6,315,098. 50.00% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Lindbrook Capital LLC grew its position in shares of Appian by 50.0% during the 1st quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock worth $30,000 after buying an additional 300 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Appian by 97.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 701 shares of the company’s stock worth $25,000 after buying an additional 346 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Appian by 83.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 836 shares of the company’s stock worth $30,000 after buying an additional 380 shares during the period. Weaver Consulting Group acquired a new stake in shares of Appian during the 1st quarter worth approximately $25,000. Finally, Roundview Capital LLC grew its position in shares of Appian by 1.0% during the 1st quarter. Roundview Capital LLC now owns 81,462 shares of the company’s stock worth $2,805,000 after buying an additional 820 shares during the period. Institutional investors own 30.26% of the company’s stock.

Appian Company Profile (NASDAQ:APPN)

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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