Appian (NASDAQ:APPN) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Appian (NASDAQ:APPN) from a strong-buy rating to a buy rating in a report published on Friday morning.

A number of other research firms have also weighed in on APPN. Morgan Stanley raised shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Monday, January 12th. DA Davidson started coverage on Appian in a research note on Friday, November 7th. They set a “hold” rating and a $38.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Appian in a research report on Monday, December 29th. Zacks Research lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Barclays cut their price objective on shares of Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a research report on Monday, January 12th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.40.

Appian Price Performance

Appian stock opened at $29.71 on Friday. The stock’s 50 day moving average is $36.56 and its 200 day moving average is $32.83. Appian has a one year low of $24.00 and a one year high of $46.06. The firm has a market cap of $2.19 billion, a P/E ratio of -297.07 and a beta of 0.82.

Appian (NASDAQ:APPN) last released its quarterly 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 firm had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently modified their holdings of APPN. EverSource Wealth Advisors LLC lifted its stake in shares of Appian by 282.5% in the third 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. increased its holdings in shares of Appian by 693.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after purchasing an additional 846 shares in the last quarter. Allworth Financial LP raised its stake in shares of Appian by 175.2% in the third quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock worth $35,000 after purchasing an additional 720 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Appian by 89.0% during the second 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 in the last quarter. Finally, Jones Financial Companies Lllp boosted its position 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 valued at $51,000 after buying an additional 886 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors.

About Appian

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.