Appian (NASDAQ:APPN) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Appian (NASDAQ:APPN) from a buy rating to a strong-buy rating in a research note published on Saturday.

APPN has been the topic of several other research reports. Barclays raised their price target on Appian from $33.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Appian in a report on Monday, December 1st. Morgan Stanley upped their price target on shares of Appian from $29.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Cowen reissued a “hold” rating on shares of Appian in a report on Thursday, November 6th. Finally, Zacks Research lowered Appian from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $39.00.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $40.96 on Friday. The firm’s 50 day simple moving average is $34.86 and its 200-day simple moving average is $31.82. Appian has a one year low of $24.00 and a one year high of $46.06. The firm has a market cap of $3.02 billion, a PE ratio of -409.56 and a beta of 0.84.

Appian (NASDAQ:APPN) last announced its quarterly 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 analysts’ expectations of $174.11 million. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. Equities research analysts predict that Appian will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Appian by 282.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $25,000 after acquiring an additional 599 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Appian by 693.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock valued at $30,000 after purchasing an additional 846 shares during the period. 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 worth $36,000 after purchasing an additional 564 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Appian by 115.5% in 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 owned by hedge funds and other 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.