Appian (NASDAQ:APPN) had its target price boosted by stock analysts at Goldman Sachs Group from $42.00 to $46.00 in a report released on Monday, The Fly reports. Goldman Sachs Group’s price objective indicates a potential downside of 10.24% from the company’s previous close.
Several other brokerages have also issued reports on APPN. Barclays reissued a “hold” rating and issued a $37.00 price target on shares of Appian in a research note on Tuesday, March 17th. Needham & Company LLC initiated coverage on shares of Appian in a research report on Tuesday, June 16th. They set a “hold” rating on the stock. Zacks Investment Research cut shares of Appian from a “buy” rating to a “hold” rating in a report on Friday, June 19th. Morgan Stanley upped their price objective on shares of Appian from $32.00 to $35.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, BidaskClub downgraded Appian from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.00.
NASDAQ:APPN opened at $51.25 on Monday. Appian has a 52 week low of $29.07 and a 52 week high of $64.72. The firm’s fifty day moving average is $54.27 and its 200-day moving average is $46.73. The firm has a market cap of $3.57 billion, a P/E ratio of -76.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35.
Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. Appian had a negative net margin of 15.61% and a negative return on equity of 28.77%. The business had revenue of $78.86 million for the quarter, compared to analysts’ expectations of $70.32 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Appian will post -0.89 earnings per share for the current year.
In related news, Director Prashanth Boccassam sold 3,000 shares of Appian stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $51.04, for a total transaction of $153,120.00. Following the transaction, the director now owns 97,663 shares of the company’s stock, valued at $4,984,719.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Steven Lynch sold 16,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $50.16, for a total value of $802,560.00. Following the sale, the chief financial officer now owns 21,400 shares of the company’s stock, valued at approximately $1,073,424. The disclosure for this sale can be found here. Insiders have sold 44,517 shares of company stock valued at $2,272,192 over the last quarter. Corporate insiders own 46.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in shares of Appian by 3.8% in the 1st quarter. State Street Corp now owns 721,868 shares of the company’s stock worth $29,041,000 after acquiring an additional 26,346 shares in the last quarter. Twinbeech Capital LP purchased a new position in Appian during the first quarter worth about $583,000. Advisor Group Holdings Inc. bought a new stake in Appian in the 1st quarter worth about $1,206,000. Engineers Gate Manager LP increased its stake in Appian by 93.7% in the 1st quarter. Engineers Gate Manager LP now owns 20,719 shares of the company’s stock valued at $834,000 after buying an additional 10,025 shares during the last quarter. Finally, Ashford Capital Management Inc. lifted its position in shares of Appian by 10.0% during the 1st quarter. Ashford Capital Management Inc. now owns 189,210 shares of the company’s stock worth $7,612,000 after buying an additional 17,210 shares in the last quarter. 40.19% of the stock is currently owned by hedge funds and other institutional investors.
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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