BidaskClub cut shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a research note published on Saturday morning, BidAskClub reports.

Several other analysts also recently weighed in on the stock. Barclays reaffirmed a hold rating and issued a $37.00 target price on shares of Appian in a report on Tuesday, March 17th. Zacks Investment Research cut Appian from a buy rating to a hold rating in a report on Friday, June 19th. Morgan Stanley lifted their price target on Appian from $32.00 to $35.00 and gave the company an underweight rating in a research note on Monday, May 11th. Finally, Needham & Company LLC assumed coverage on Appian in a report on Tuesday, June 16th. They issued a hold rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $45.00.

Shares of NASDAQ APPN opened at $50.12 on Friday. The business has a 50-day moving average price of $54.25 and a 200 day moving average price of $46.69. The stock has a market cap of $3.44 billion, a PE ratio of -74.81 and a beta of 1.01. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Appian has a 52-week low of $29.07 and a 52-week high of $64.72.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, May 7th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. Appian had a negative net margin of 15.61% and a negative return on equity of 28.77%. The business had revenue of $78.86 million for the quarter, compared to analysts’ expectations of $70.32 million. During the same period in the previous year, the company posted ($0.12) EPS. The company’s quarterly revenue was up 30.8% on a year-over-year basis. Sell-side analysts anticipate that Appian will post -0.89 earnings per share for the current year.

In other Appian news, major shareholder Abdiel Capital Management, Llc bought 250,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $56.50 per share, for a total transaction of $14,125,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Steven Lynch sold 16,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $50.16, for a total value of $802,560.00. Following the transaction, the chief financial officer now owns 21,400 shares in the company, valued at $1,073,424. The disclosure for this sale can be found here. In the last three months, insiders sold 52,517 shares of company stock valued at $2,565,872. Company insiders own 46.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in APPN. Carmichael Hill & Associates Inc. increased its position in shares of Appian by 23.1% in the first quarter. Carmichael Hill & Associates Inc. now owns 1,600 shares of the company’s stock worth $64,000 after acquiring an additional 300 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Appian by 10.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,234 shares of the company’s stock worth $130,000 after purchasing an additional 306 shares during the period. US Bancorp DE increased its holdings in Appian by 48.4% in the 1st quarter. US Bancorp DE now owns 1,380 shares of the company’s stock valued at $56,000 after purchasing an additional 450 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Appian by 127.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 981 shares of the company’s stock valued at $39,000 after purchasing an additional 550 shares during the period. Finally, Alliancebernstein L.P. raised its position in Appian by 1.3% in the first quarter. Alliancebernstein L.P. now owns 46,990 shares of the company’s stock valued at $1,890,000 after purchasing an additional 590 shares during the period. 40.19% of the stock is currently owned by hedge funds and other 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.

Featured Story: Book Value Per Share in Stock Trading

Analyst Recommendations for Appian (NASDAQ:APPN)

Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.