Appian (NASDAQ:APPN) Reaches New 1-Year High – Here’s Why
by Kim Johansen · The Markets DailyAppian Corporation (NASDAQ:APPN – Get Free Report) reached a new 52-week high on Wednesday. The company traded as high as $46.72 and last traded at $46.7360, with a volume of 153,938 shares traded. The stock had previously closed at $44.51.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Zacks Research cut Appian from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. DA Davidson lifted their price target on Appian from $34.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Barclays lifted their price target on Appian from $26.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, October 13th. Wall Street Zen cut shares of Appian from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Citigroup boosted their price target on shares of Appian from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $32.17.
Read Our Latest Stock Analysis on APPN
Appian Stock Performance
The firm’s 50 day moving average price is $38.15 and its two-hundred day moving average price is $28.78. The firm has a market cap of $3.44 billion, a PE ratio of -320.65 and a beta of 0.92.
Appian (NASDAQ:APPN – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $203.26 million during the quarter, compared to the consensus estimate of $193.38 million. Appian had a negative net margin of 1.34% and a negative return on equity of 35.20%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. Appian has set its FY 2026 guidance at 1.040-1.120 EPS and its Q3 2026 guidance at 0.310-0.350 EPS. On average, analysts forecast that Appian Corporation will post 0.45 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO Matthew Calkins sold 45,000 shares of the stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $37.50, for a total value of $1,687,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,584,144 shares in the company, valued at approximately $59,405,400. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 42.81% of the company’s stock.
Institutional Investors Weigh In On Appian
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its stake in shares of Appian by 35.5% in the 2nd quarter. IFP Advisors Inc now owns 1,108 shares of the company’s stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. KBC Group NV purchased a new position in shares of Appian during the 1st quarter worth $31,000. State of Alaska Department of Revenue purchased a new position in shares of Appian during the 3rd quarter worth $73,000. Allworth Financial LP grew its holdings in shares of Appian by 15.0% during the 2nd quarter. Allworth Financial LP now owns 2,678 shares of the company’s stock worth $61,000 after purchasing an additional 350 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Appian during the 2nd quarter worth about $63,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.
About Appian
Appian Corporation (NASDAQ: APPN) develops and provides a low-code platform designed to help organizations build, manage and automate business applications and processes. Its platform combines process orchestration, workflow automation, artificial intelligence, robotic process automation, case management and data management capabilities in a unified environment.
Appian’s software is used to improve operational efficiency, connect data and systems, and support applications such as customer service, compliance, supply chain management and government services.