Morgan Stanley Issues Positive Forecast for Appian (NASDAQ:APPN) Stock Price

Appian (NASDAQ:APPN) had its price objective lifted by Morgan Stanley from $29.00 to $45.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently weighed in on APPN. DA Davidson initiated coverage on shares of Appian in a report on Friday, November 7th. They set a “hold” rating and a $38.00 price objective on the stock. Barclays increased their target price on shares of Appian from $33.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a research report on Wednesday, November 5th. Cowen restated a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Finally, Zacks Research cut Appian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Appian has a consensus rating of “Reduce” and a consensus price target of $39.00.

Appian Price Performance

NASDAQ:APPN opened at $44.22 on Tuesday. Appian has a 12 month low of $24.00 and a 12 month high of $44.65. The firm has a market capitalization of $3.27 billion, a PE ratio of -442.16 and a beta of 1.77. The business’s fifty day moving average price is $31.36 and its 200 day moving average price is $30.60.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $174.11 million. During the same period last year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. Appian has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Appian will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Appian by 13.0% during the third quarter. Vanguard Group Inc. now owns 5,935,948 shares of the company’s stock worth $181,462,000 after purchasing an additional 681,643 shares during the last quarter. Jones Financial Companies Lllp grew its position in Appian by 347,121.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company’s stock valued at $45,516,000 after buying an additional 1,579,403 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Appian by 211.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 690,788 shares of the company’s stock valued at $20,627,000 after buying an additional 469,259 shares during the period. Marshall Wace LLP increased its stake in Appian by 150.8% in the 2nd quarter. Marshall Wace LLP now owns 609,354 shares of the company’s stock valued at $18,195,000 after buying an additional 366,349 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in Appian by 70.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 496,741 shares of the company’s stock worth $14,833,000 after buying an additional 204,925 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.