Appian (APPN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Appian Corporation provides low-code software development platform which enables organizations to develop various applications primarily in the United States and internationally. The Company’s products include business process management software, case management, mobile application development and platform as a service. It serves financial services, healthcare, government, telecommunications, media, energy, manufacturing and transportation organizations. Appian Corporation is headquartered in Reston, Virginia. “

Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Appian from a sell rating to a hold rating in a report on Saturday, November 3rd. SunTrust Banks increased their price objective on shares of Appian to $32.00 and gave the company a hold rating in a report on Monday, February 25th. Canaccord Genuity increased their price objective on shares of Appian from $27.00 to $33.00 and gave the company a hold rating in a report on Friday, February 22nd. Finally, Goldman Sachs Group began coverage on shares of Appian in a report on Friday, February 1st. They set a sell rating and a $26.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $31.50.

Appian stock opened at $36.71 on Wednesday. Appian has a 12-month low of $22.61 and a 12-month high of $43.61.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, February 21st. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $60.22 million during the quarter, compared to analysts’ expectations of $55.74 million. Appian had a negative net margin of 21.81% and a negative return on equity of 97.30%. The business’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm posted ($0.08) earnings per share. On average, equities analysts forecast that Appian will post -0.63 EPS for the current fiscal year.

In other Appian news, major shareholder Abdiel Capital Management, Llc bought 64,992 shares of Appian stock in a transaction that occurred on Thursday, December 13th. The stock was purchased at an average cost of $26.52 per share, for a total transaction of $1,723,587.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edward L. Hughes sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $29.98, for a total transaction of $599,600.00. Following the sale, the vice president now owns 134,364 shares of the company’s stock, valued at $4,028,232.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 630,737 shares of company stock valued at $16,123,572 and have sold 72,757 shares valued at $2,530,245. Company insiders own 64.00% of the company’s stock.

A number of large investors have recently modified their holdings of APPN. Great West Life Assurance Co. Can bought a new stake in Appian during the fourth quarter worth approximately $38,000. IFP Advisors Inc increased its holdings in shares of Appian by 29.6% in the fourth quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock valued at $40,000 after purchasing an additional 331 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Appian by 12.2% in the fourth quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock valued at $74,000 after purchasing an additional 300 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Appian by 295.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,660 shares of the company’s stock valued at $97,000 after purchasing an additional 2,735 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Appian in the third quarter valued at $166,000. Hedge funds and other institutional investors own 23.71% of the company’s stock.

Appian Company Profile

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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