Appian (NASDAQ:APPN) PT Lowered to $41.00

Appian (NASDAQ:APPN) had its price target dropped by research analysts at The Goldman Sachs Group from $47.00 to $41.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 38.84% from the company’s previous close.

Several other research firms have also recently weighed in on APPN. Barclays decreased their price objective on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Appian Trading Up 0.4 %

APPN traded up $0.11 during midday trading on Friday, hitting $29.53. 554,523 shares of the company were exchanged, compared to its average volume of 561,011. The firm has a market capitalization of $2.13 billion, a P/E ratio of -20.09 and a beta of 1.47. The firm’s 50 day moving average price is $31.22 and its 200-day moving average price is $33.74. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68. Appian has a 1-year low of $26.28 and a 1-year high of $52.99.

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

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 475,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was purchased at an average cost of $30.94 per share, with a total value of $14,696,500.00. Following the acquisition, the insider now owns 6,365,304 shares of the company’s stock, valued at approximately $196,942,505.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 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 cost of $28.02 per share, with a total value of $90,364.50. Following the acquisition, the director now owns 19,689 shares of the company’s stock, valued at $551,685.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Abdiel Capital Advisors, Lp acquired 475,000 shares of the stock in a transaction on Friday, July 5th. The stock was bought at an average cost of $30.94 per share, for a total transaction of $14,696,500.00. Following the transaction, the insider now owns 6,365,304 shares of the company’s stock, valued at approximately $196,942,505.76. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,381,568 shares of company stock worth $46,783,802. 44.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Appian

A number of hedge funds have recently modified their holdings of APPN. Crossmark Global Holdings Inc. increased its position in Appian by 3.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after buying an additional 280 shares during the last quarter. Arizona State Retirement System lifted its holdings in Appian by 4.6% during the fourth quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock valued at $351,000 after purchasing an additional 411 shares during the last quarter. ProShare Advisors LLC boosted its position in Appian by 10.0% during the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after purchasing an additional 758 shares during the period. Victory Capital Management Inc. increased its stake in shares of Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Appian in the fourth quarter valued at approximately $47,000. Institutional investors own 52.70% of the company’s stock.

About Appian

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.