Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,870,000 shares, a growth of 15.2% from the May 31st total of 3,360,000 shares. Based on an average daily trading volume, of 504,300 shares, the short-interest ratio is presently 7.7 days.

Wall Street Analyst Weigh In

APPN has been the topic of several analyst reports. DA Davidson lowered their price objective on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. KeyCorp lowered their price objective on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Citigroup upped their price objective on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. William Blair reaffirmed an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Finally, Barclays lowered their price target on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.43.

Appian Stock Performance

Shares of NASDAQ APPN traded up $0.37 during midday trading on Tuesday, hitting $31.13. 381,218 shares of the stock traded hands, compared to its average volume of 504,889. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $2.25 billion, a P/E ratio of -21.18 and a beta of 1.48. Appian has a one year low of $26.28 and a one year high of $52.99. The firm has a 50-day moving average of $30.98 and a two-hundred day moving average of $34.08.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The company had revenue of $149.80 million during the quarter, compared to analysts’ expectations of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) earnings per share. On average, equities analysts forecast that Appian will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Albert G.W. Biddle III purchased 3,225 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the purchase, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Appian by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after purchasing an additional 147,785 shares in the last quarter. Hawk Ridge Capital Management LP increased its stake in Appian by 14.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after buying an additional 236,230 shares in the last quarter. Roubaix Capital LLC purchased a new stake in Appian in the 4th quarter worth $2,190,000. SG Americas Securities LLC purchased a new stake in Appian in the 4th quarter worth $308,000. Finally, Victory Capital Management Inc. increased its stake in Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after buying an additional 1,027 shares in the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.