Appian (NASDAQ:APPN) Price Target Raised to $41.00 at KeyCorp

Appian (NASDAQ:APPN) had its target price increased by KeyCorp from $37.00 to $41.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, Barclays reduced their target price on shares of Appian from $36.00 to $32.00 and set an underweight rating on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Appian currently has an average rating of Moderate Buy and an average target price of $47.00.

Appian Price Performance

Shares of Appian stock opened at $37.75 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -25.68 and a beta of 1.48. Appian has a 1-year low of $26.28 and a 1-year high of $52.99. The firm’s 50-day moving average price is $30.96 and its two-hundred day moving average price is $33.71.

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

Insider Activity at Appian

In other Appian news, Director Albert G.W. Biddle III acquired 3,225 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Abdiel Capital Advisors, Lp bought 60,722 shares of the business’s stock in a transaction on Monday, July 8th. The shares were bought at an average cost of $31.34 per share, for a total transaction of $1,903,027.48. Following the completion of the acquisition, the insider now owns 6,426,026 shares in the company, valued at approximately $201,391,654.84. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Albert G.W. Biddle III bought 3,225 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the acquisition, the director now owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The disclosure for this purchase can be found here. Insiders have acquired 1,081,568 shares of company stock worth $35,608,802 over the last ninety days. Company insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Appian in the fourth quarter worth $47,000. Neo Ivy Capital Management acquired a new stake in Appian in the second quarter worth $65,000. Concord Wealth Partners acquired a new stake in Appian in the first quarter worth $85,000. Quest Partners LLC acquired a new stake in Appian in the fourth quarter worth $177,000. Finally, Victory Capital Management Inc. raised its holdings in 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 during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.