Appian (NASDAQ:APPN) Stock Rating Lowered by BidaskClub

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BidaskClub downgraded shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a report released on Saturday, BidAskClub reports.

Other analysts have also recently issued reports about the company. Barclays reiterated 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. Needham & Company LLC began coverage on Appian in a report on Tuesday, June 16th. They issued a hold rating on the stock. Finally, Morgan Stanley upped their target price on Appian from $32.00 to $35.00 and gave the company an underweight rating in a report on Monday, May 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $45.00.

Appian stock opened at $51.25 on Friday. The business has a 50 day moving average of $54.27 and a 200-day moving average of $46.73. Appian has a 1 year low of $29.07 and a 1 year high of $64.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market capitalization of $3.57 billion, a P/E ratio of -76.49 and a beta of 1.01.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, May 7th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. Appian had a negative return on equity of 28.77% and a negative net margin of 15.61%. 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 prior year, the business posted ($0.12) earnings per share. The firm’s revenue was up 30.8% on a year-over-year basis. Equities analysts anticipate that Appian will post -0.89 EPS for the current year.

In related news, Director Prashanth Boccassam sold 3,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $51.04, for a total value of $153,120.00. Following the transaction, the director now directly owns 97,663 shares in the company, valued at approximately $4,984,719.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Abdiel Capital Management, Llc bought 250,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $56.50 per share, for a total transaction of $14,125,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 44,517 shares of company stock worth $2,272,192 over the last 90 days. Company insiders own 46.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Appian by 3.8% in the 1st quarter. State Street Corp now owns 721,868 shares of the company’s stock worth $29,041,000 after purchasing an additional 26,346 shares in the last quarter. Twinbeech Capital LP bought a new position in shares of Appian in the 1st quarter worth $583,000. Advisor Group Holdings Inc. bought a new position in shares of Appian in the 1st quarter worth $1,206,000. Engineers Gate Manager LP lifted its holdings in shares of Appian by 93.7% in the 1st quarter. Engineers Gate Manager LP now owns 20,719 shares of the company’s stock worth $834,000 after purchasing an additional 10,025 shares in the last quarter. Finally, Ashford Capital Management Inc. lifted its holdings in shares of Appian by 10.0% in the 1st quarter. Ashford Capital Management Inc. now owns 189,210 shares of the company’s stock worth $7,612,000 after purchasing an additional 17,210 shares in the last quarter. Institutional investors own 40.19% of the company’s stock.

About Appian

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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