Appian (NASDAQ:APPN) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other analysts have also recently issued reports about the company. ValuEngine cut Appian from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. SunTrust Banks raised their price objective on Appian from $32.00 to $46.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Barclays set a $41.00 price objective on Appian and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research raised Appian from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $36.87.

APPN opened at $50.33 on Wednesday. Appian has a 12-month low of $22.61 and a 12-month high of $62.94. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -62.91 and a beta of 1.02. The business has a 50 day moving average of $50.97 and a 200-day moving average of $41.14. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.04.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.07. Appian had a negative return on equity of 80.44% and a negative net margin of 23.12%. The company had revenue of $66.90 million during the quarter, compared to analysts’ expectations of $63.44 million. During the same period last year, the firm posted ($0.14) earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that Appian will post -0.76 earnings per share for the current year.

In related news, insider Robert Charles Kramer sold 48,000 shares of Appian stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $40.76, for a total transaction of $1,956,480.00. Following the completion of the sale, the insider now directly owns 66,363 shares of the company’s stock, valued at approximately $2,704,955.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew W. Calkins sold 375,000 shares of Appian stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $55.70, for a total value of $20,887,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 645,984 shares of company stock valued at $34,553,920. 50.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC raised its holdings in Appian by 39.6% in the 3rd quarter. Truvestments Capital LLC now owns 775 shares of the company’s stock valued at $37,000 after acquiring an additional 220 shares in the last quarter. Aubrey Capital Management Ltd acquired a new position in Appian in the 2nd quarter valued at $3,535,000. Intrinsic Edge Capital Management LLC acquired a new position in Appian in the 2nd quarter valued at $9,874,000. Needham Investment Management LLC raised its holdings in Appian by 36.0% in the 2nd quarter. Needham Investment Management LLC now owns 17,000 shares of the company’s stock valued at $613,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Appian by 9.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,130 shares of the company’s stock valued at $866,000 after acquiring an additional 2,094 shares in the last quarter. 35.96% of the stock is owned by hedge funds and other institutional investors.

About Appian

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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Analyst Recommendations for Appian (NASDAQ:APPN)

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