Appian (NASDAQ:APPN) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Appian (NASDAQ:APPN) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also recently issued reports on APPN. Cowen reaffirmed a “hold” rating on shares of Appian in a research report on Thursday. DA Davidson started coverage on shares of Appian in a research report on Friday. They set a “hold” rating and a $38.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a research report on Wednesday. Finally, Barclays raised their target price on shares of Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Appian currently has an average rating of “Reduce” and a consensus target price of $35.80.

Appian Price Performance

APPN stock traded up $1.93 during trading hours on Thursday, reaching $40.29. The stock had a trading volume of 1,687,161 shares, compared to its average volume of 808,481. The stock has a 50-day simple moving average of $30.86 and a 200 day simple moving average of $30.39. Appian has a fifty-two week low of $24.00 and a fifty-two week high of $41.78. The stock has a market capitalization of $2.98 billion, a PE ratio of -402.86 and a beta of 1.77.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The firm had revenue of $187.00 million during the quarter, compared to the consensus estimate of $174.11 million. During the same period in the previous year, the company posted $0.15 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Appian has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Appian will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

Several hedge funds have recently bought and sold shares of APPN. PNC Financial Services Group Inc. grew its holdings 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 purchasing an additional 564 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Appian by 115.5% during the third quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock worth $51,000 after buying an additional 886 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Appian by 21.7% during the first quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock worth $74,000 after buying an additional 461 shares in the last quarter. Globeflex Capital L P bought a new position in shares of Appian in the 2nd quarter valued at $90,000. Finally, Headlands Technologies LLC lifted its stake in shares of Appian by 2,052.0% in the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock valued at $122,000 after acquiring an additional 4,022 shares during the last quarter. 52.70% of the stock is owned by institutional investors.

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.