BidaskClub upgraded shares of Appian (NASDAQ:APPN) from a hold rating to a buy rating in a report released on Tuesday.

Several other research analysts have also recently weighed in on APPN. Zacks Investment Research upgraded shares of Appian from a sell rating to a hold rating in a research report on Tuesday, April 24th. SunTrust Banks upgraded shares of Appian from a hold rating to a buy rating and set a $35.00 price objective on the stock in a research report on Tuesday, May 1st. ValuEngine upgraded shares of Appian from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Canaccord Genuity upped their price objective on shares of Appian from $26.00 to $28.00 and gave the stock a hold rating in a research report on Friday, May 4th. Finally, Morgan Stanley increased their price target on shares of Appian from $24.00 to $26.00 and gave the company an underweight rating in a research report on Wednesday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $27.14.

APPN stock opened at $35.89 on Tuesday. The company has a market capitalization of $2.31 billion, a P/E ratio of -58.84 and a beta of 0.30. Appian has a 1-year low of $19.62 and a 1-year high of $43.61.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. The company had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $50.31 million. Appian had a negative net margin of 16.28% and a negative return on equity of 81.10%. Appian’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. analysts anticipate that Appian will post -0.75 EPS for the current year.

In other Appian news, Director Michael J. Mulligan sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $35.11, for a total transaction of $877,750.00. Following the transaction, the director now directly owns 9,155 shares in the company, valued at $321,432.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Edward L. Hughes sold 20,000 shares of the stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $33.66, for a total transaction of $673,200.00. Following the transaction, the vice president now owns 132,359 shares in the company, valued at $4,455,203.94. The disclosure for this sale can be found here. Insiders have sold 108,500 shares of company stock worth $3,618,565 over the last quarter. Company insiders own 64.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG grew its position in Appian by 240.8% during the first quarter. UBS Group AG now owns 6,717 shares of the company’s stock valued at $169,000 after acquiring an additional 4,746 shares during the last quarter. California Public Employees Retirement System bought a new position in Appian during the second quarter valued at approximately $207,000. Commonwealth Equity Services LLC bought a new position in Appian during the first quarter valued at approximately $219,000. Deutsche Bank AG grew its position in Appian by 421.7% during the fourth quarter. Deutsche Bank AG now owns 7,945 shares of the company’s stock valued at $250,000 after acquiring an additional 6,422 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Appian during the second quarter valued at approximately $264,000. Institutional investors and hedge funds own 17.55% of the company’s stock.

About Appian

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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Analyst Recommendations for Appian (NASDAQ:APPN)

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