Appian Corporation (NASDAQ:APPN) Given Consensus Rating of “Hold” by Analysts

Shares of Appian Corporation (NASDAQ:APPN) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $38.40.

Several analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Appian in a research report on Monday, December 29th. Zacks Research lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Wall Street Zen upgraded Appian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 6th. Finally, DA Davidson began coverage on Appian in a report on Friday, November 7th. They issued a “hold” rating and a $38.00 target price for the company.

Institutional Investors Weigh In On Appian

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in Appian by 282.5% during the third quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 599 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Appian by 693.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock valued at $30,000 after acquiring an additional 846 shares during the last quarter. Allworth Financial LP grew its position in shares of Appian by 175.2% during the 3rd quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after acquiring an additional 720 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Appian by 89.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock valued at $36,000 after acquiring an additional 564 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Appian by 115.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock worth $51,000 after purchasing an additional 886 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors.

Appian Stock Performance

Shares of APPN opened at $28.62 on Thursday. The firm has a market capitalization of $2.11 billion, a P/E ratio of -286.17 and a beta of 0.82. Appian has a 52 week low of $24.00 and a 52 week high of $46.06. The stock has a 50 day moving average price of $37.76 and a two-hundred day moving average price of $32.91.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The company had revenue of $187.00 million during the quarter, compared to the consensus estimate of $174.11 million. During the same quarter in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities analysts forecast that Appian will post -0.28 earnings per share for the current year.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.