Appian Corp (APPN) Given Consensus Rating of “Hold” by Analysts
Shares of Appian Corp (NASDAQ:APPN) have earned a consensus rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.80.
APPN has been the subject of a number of recent analyst reports. Canaccord Genuity upped their price target on shares of Appian from $19.00 to $22.00 and gave the company a “hold” rating in a report on Monday, October 30th. Morgan Stanley upped their price target on shares of Appian from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Appian from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, November 7th. SunTrust Banks initiated coverage on shares of Appian in a report on Tuesday, November 21st. They set a “buy” rating and a $28.00 price target for the company. Finally, William Blair initiated coverage on shares of Appian in a report on Monday, November 27th. They set an “outperform” rating for the company.
In related news, major shareholder M James Barrett sold 569,620 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $19.49, for a total transaction of $11,101,893.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 17,473 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were purchased at an average cost of $20.14 per share, for a total transaction of $351,906.22. The disclosure for this purchase can be found here. Insiders bought a total of 512,543 shares of company stock worth $10,557,263 over the last ninety days.
Shares of Appian (NASDAQ:APPN) opened at $28.74 on Friday. Appian has a 1-year low of $14.60 and a 1-year high of $43.26.
Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.10. The firm had revenue of $50.60 million for the quarter, compared to the consensus estimate of $41.78 million. The company’s quarterly revenue was up 50.1% on a year-over-year basis. analysts forecast that Appian will post -0.61 earnings per share for the current year.
Appian Company Profile
Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.
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