Appian Corporation (NASDAQ:APPN) Receives $39.00 Consensus Target Price from Brokerages

by · The Cerbat Gem

Appian Corporation (NASDAQ:APPN – Get Free Report) has been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $39.00.

APPN has been the topic of a number of recent research reports. Wall Street Zen raised Appian from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 6th. Cowen reiterated a “hold” rating on shares of Appian in a research note on Thursday, November 6th. DA Davidson began coverage on shares of Appian in a report on Friday, November 7th. They issued a “hold” rating and a $38.00 price objective on the stock. Zacks Research raised shares of Appian from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Finally, Barclays increased their price target on shares of Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, November 7th.

View Our Latest Stock Analysis on APPN

Appian Trading Down 2.3%

NASDAQ:APPN opened at $36.54 on Friday. The company has a market cap of $2.70 billion, a PE ratio of -365.36 and a beta of 0.84. The company has a 50 day simple moving average of $36.93 and a two-hundred day simple moving average of $32.41. Appian has a 12 month low of $24.00 and a 12 month high of $46.06.

Appian (NASDAQ:APPN – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.27. The firm had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. During the same period in the previous year, the company earned $0.15 earnings per share. Appian’s quarterly revenue was up 21.4% compared to the same quarter last year. Research analysts forecast that Appian will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently bought and sold shares of APPN. Mirae Asset Global Investments Co. Ltd. increased its position in Appian by 7.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,386 shares of the company’s stock worth $221,000 after buying an additional 507 shares in the last quarter. PNC Financial Services Group Inc. grew its stake 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. EverSource Wealth Advisors LLC grew its stake in shares of Appian by 282.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $25,000 after acquiring an additional 599 shares during the period. Legal & General Group Plc increased its holdings in Appian by 1.7% in the 3rd quarter. Legal & General Group Plc now owns 37,730 shares of the company’s stock worth $1,153,000 after acquiring an additional 632 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Appian by 175.2% during the 3rd quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock worth $35,000 after acquiring an additional 720 shares during the period. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

About Appian

(Get Free Report)

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.

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