Appian (NASDAQ:APPN) Earns Neutral Rating from DA Davidson

Appian (NASDAQ:APPN)‘s stock had its “neutral” rating reissued by DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They presently have a $33.00 price target on the stock, down from their previous price target of $48.00. DA Davidson’s price objective would indicate a potential downside of 10.86% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. KeyCorp upped their price target on shares of Appian from $37.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays lowered their price target on shares of 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, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.29.

Appian Stock Down 2.1 %

Shares of APPN stock traded down $0.78 during trading hours on Tuesday, reaching $37.02. 1,970,428 shares of the company’s stock were exchanged, compared to its average volume of 541,405. The stock’s 50 day moving average is $31.07 and its 200-day moving average is $33.73. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -25.18 and a beta of 1.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $52.99.

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

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were acquired at an average price of $30.94 per share, for a total transaction of $14,696,500.00. Following the completion of the transaction, the insider now directly owns 6,365,304 shares in the company, valued at $196,942,505.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 475,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were purchased at an average cost of $30.94 per share, with a total value of $14,696,500.00. Following the completion of the purchase, the insider now owns 6,365,304 shares in the company, valued at approximately $196,942,505.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Albert G.W. Biddle III acquired 3,225 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $28.02 per share, with a total value of $90,364.50. Following the purchase, the director now owns 19,689 shares in the company, valued at approximately $551,685.78. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,081,568 shares of company stock valued at $35,608,802. 44.00% of the stock is owned by corporate insiders.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after purchasing an additional 392,190 shares during the period. First Trust Advisors LP raised its position in shares of Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after acquiring an additional 317,411 shares in the last quarter. Norges Bank acquired a new stake in shares of Appian during the 4th quarter worth about $10,534,000. Hawk Ridge Capital Management LP raised its position in shares of Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after acquiring an additional 236,230 shares in the last quarter. Finally, Stanley Laman Group Ltd. acquired a new stake in shares of Appian during the 4th quarter worth about $7,955,000. 52.70% of the stock is 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.