Appian (NASDAQ:APPN) Reaches New 1-Year Low – Here’s Why

Appian Corporation (NASDAQ:APPN) shares hit a new 52-week low during trading on Friday . The company traded as low as $23.88 and last traded at $24.7130, with a volume of 253899 shares traded. The stock had previously closed at $24.89.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays reduced their price objective on Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a research report on Monday, December 29th. Wall Street Zen cut shares of Appian from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. DA Davidson started coverage on shares of Appian in a research note on Friday, November 7th. They issued a “hold” rating and a $38.00 price objective on the stock. Finally, TD Cowen restated a “hold” rating on shares of Appian in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.40.

Appian Trading Up 0.5%

The business has a 50-day moving average price of $34.13 and a 200-day moving average price of $32.73. The stock has a market cap of $1.85 billion, a PE ratio of -250.12 and a beta of 0.90.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.32 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 analysts’ expectations of $174.11 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts expect that Appian Corporation will post -0.28 earnings per share for the current year.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new position in Appian in the second quarter valued at $3,992,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Appian by 47.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 374,764 shares of the company’s stock valued at $11,190,000 after purchasing an additional 119,852 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Appian in the 2nd quarter valued at about $3,135,000. Arrowstreet Capital Limited Partnership grew its position in shares of Appian by 211.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 690,788 shares of the company’s stock worth $20,627,000 after buying an additional 469,259 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Appian during the second quarter worth approximately $874,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.