Barclays Issues Pessimistic Forecast for Appian (NASDAQ:APPN) Stock Price

Appian (NASDAQ:APPN) had its target price cut by Barclays from $37.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts also recently weighed in on the company. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Scotiabank started coverage on shares of Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective on the stock. Morgan Stanley decreased their target price on shares of Appian from $35.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, DA Davidson dropped their price target on shares of Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.57.

Appian Price Performance

Appian stock opened at $29.56 on Monday. The firm’s 50-day moving average is $29.86 and its two-hundred day moving average is $33.36. The stock has a market capitalization of $2.19 billion, a P/E ratio of -23.46 and a beta of 1.78. Appian has a 12-month low of $24.00 and a 12-month high of $43.33.

Appian (NASDAQ:APPN) last released its earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. As a group, analysts forecast that Appian will post -0.28 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $27.02, for a total value of $137,883.06. Following the completion of the sale, the insider now directly owns 9,755,116 shares in the company, valued at approximately $263,583,234.32. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the transaction, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,510 shares of company stock valued at $6,648,635. 44.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Appian

Large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in Appian during the 4th quarter valued at $4,918,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Appian by 184.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock valued at $6,637,000 after purchasing an additional 130,606 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Appian by 418.8% during the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock valued at $5,303,000 after purchasing an additional 129,800 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in Appian by 222.6% during the 4th quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock worth $6,034,000 after purchasing an additional 126,256 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Appian in the 4th quarter valued at approximately $4,046,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Company Profile

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.