Appian (NASDAQ:APPN) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, BidAskClub reports.
Other research analysts have also issued reports about the company. ValuEngine lowered Appian from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC assumed coverage on Appian in a research report on Friday, January 10th. They set a “buy” rating and a $49.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Appian currently has an average rating of “Hold” and a consensus price target of $40.64.
NASDAQ APPN opened at $54.11 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.02. Appian has a twelve month low of $30.43 and a twelve month high of $62.94. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -67.64 and a beta of 0.85. The business’s fifty day moving average is $41.44 and its 200 day moving average is $44.79.
Appian (NASDAQ:APPN) last announced its earnings results on Thursday, October 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The business had revenue of $69.39 million during the quarter, compared to analyst estimates of $65.26 million. Appian had a negative return on equity of 61.04% and a negative net margin of 20.80%. Appian’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the company earned ($0.13) EPS. On average, research analysts anticipate that Appian will post -0.79 earnings per share for the current fiscal year.
In other news, Director Albert G.W. Biddle III sold 8,000 shares of Appian stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $38.65, for a total value of $309,200.00. Following the completion of the transaction, the director now directly owns 7,398 shares of the company’s stock, valued at approximately $285,932.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Steven Lynch sold 11,550 shares of Appian stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $41.79, for a total value of $482,674.50. Following the completion of the transaction, the chief financial officer now directly owns 16,950 shares of the company’s stock, valued at $708,340.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,400 shares of company stock valued at $3,264,615. 50.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC raised its position in shares of Appian by 39.6% in the 3rd quarter. Truvestments Capital LLC now owns 775 shares of the company’s stock worth $37,000 after acquiring an additional 220 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Appian by 1,432.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 843 shares of the company’s stock worth $40,000 after acquiring an additional 788 shares in the last quarter. Carroll Financial Associates Inc. bought a new position in shares of Appian in the 4th quarter worth about $33,000. Captrust Financial Advisors raised its position in shares of Appian by 750.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,275 shares of the company’s stock worth $46,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Appian by 242.1% in the 2nd quarter. Bank of Montreal Can now owns 3,678 shares of the company’s stock worth $133,000 after acquiring an additional 2,603 shares in the last quarter. 41.74% of the stock is owned by hedge funds and other institutional investors.
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.