Appian (NASDAQ:APPN) Raised to “Strong-Buy” at Wall Street Zen

by · The Markets Daily

Appian (NASDAQ:APPN – Get Free Report) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

APPN has been the topic of several other reports. Morgan Stanley increased their price objective on shares of Appian from $29.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Cowen reissued a “hold” rating on shares of Appian in a research report on Thursday, November 6th. Barclays boosted their price objective on shares of Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, November 7th. DA Davidson started coverage on Appian in a research note on Friday, November 7th. They set a “hold” rating and a $38.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $39.00.

View Our Latest Research Report on APPN

Appian Trading Up 4.0%

Shares of NASDAQ:APPN opened at $40.96 on Friday. The company has a 50-day moving average price of $34.86 and a 200-day moving average price of $31.82. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -409.56 and a beta of 0.84. Appian has a 12 month low of $24.00 and a 12 month high of $46.06.

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

Institutional Investors Weigh In On Appian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. EverSource Wealth Advisors LLC increased its stake in Appian by 282.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock worth $25,000 after buying an additional 599 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Appian by 693.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock valued at $30,000 after buying an additional 846 shares in the last quarter. Allworth Financial LP increased its stake in Appian by 175.2% in 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 last quarter. PNC Financial Services Group Inc. increased its stake in Appian by 89.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock worth $36,000 after acquiring an additional 564 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Appian by 115.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock worth $51,000 after acquiring an additional 886 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

About Appian

(Get Free Report)

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.

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