Appian (NASDAQ:APPN) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage presently has a $35.10 price target on the stock. William Blair’s target price points to a potential upside of 0.40% from the stock’s previous close.

APPN has been the topic of a number of other research reports. Canaccord Genuity increased their price objective on Appian from $27.00 to $33.00 and gave the stock a “hold” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded Appian from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, February 26th. BidaskClub downgraded Appian from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 30th. Barclays restated a “hold” rating and issued a $32.00 price objective on shares of Appian in a report on Sunday, May 5th. Finally, Goldman Sachs Group started coverage on Appian in a report on Friday, February 1st. They issued a “sell” rating and a $26.00 price objective on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.31.

Shares of APPN opened at $34.96 on Thursday. Appian has a fifty-two week low of $22.61 and a fifty-two week high of $43.61.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, May 2nd. The company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. The company had revenue of $59.58 million for the quarter, compared to the consensus estimate of $59.71 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities analysts anticipate that Appian will post -0.83 EPS for the current year.

In other news, CFO Mark Steven Lynch sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $34.14, for a total value of $512,100.00. Following the completion of the sale, the chief financial officer now directly owns 16,950 shares of the company’s stock, valued at $578,673. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Mulligan sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $36.46, for a total value of $1,093,800.00. Following the completion of the sale, the director now directly owns 62,029 shares of the company’s stock, valued at $2,261,577.34. The disclosure for this sale can be found here. Insiders have sold 92,218 shares of company stock valued at $3,287,928 in the last ninety days. Company insiders own 50.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc boosted its position in shares of Appian by 78.1% in the third quarter. Vanguard Group Inc now owns 1,930,924 shares of the company’s stock valued at $63,914,000 after acquiring an additional 847,007 shares during the period. BlackRock Inc. raised its stake in shares of Appian by 101.7% in the third quarter. BlackRock Inc. now owns 408,944 shares of the company’s stock valued at $13,536,000 after purchasing an additional 206,211 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Appian in the fourth quarter valued at $210,000. Roundview Capital LLC raised its stake in shares of Appian by 1.5% in the fourth quarter. Roundview Capital LLC now owns 80,642 shares of the company’s stock valued at $2,154,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Appian by 54.9% in the third quarter. Bank of New York Mellon Corp now owns 18,798 shares of the company’s stock valued at $622,000 after purchasing an additional 6,661 shares in the last quarter. 26.70% of the stock is owned by institutional investors.

Appian Company Profile

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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