In a research note distributed to investors on Wednesday, analysts from Sumitomo Mitsui Financial Group began covering Appian’s (NASDAQ: APPN) shares, as reported by Briefing.com. The company suggests keeping a “neutral” stance regarding the stock, and their price objective for the share price is currently set at $37.00. When compared to the stock’s most recent price, the target set for Sumitomo Mitsui Financial Group may increase by 8.79% at some point in the future.
Numerous other research analysts have also contributed to the body of work on APPN by writing reports on the company. In a research note published on November 7, Goldman Sachs Group lowered both the “buy” rating that it had previously maintained for Appian shares and the $71.00 target price that it had set for the stock to $55.00. On September 12, KeyCorp began communicating with investors regarding Appian and providing updates. They provided the business with an “overweight” rating and projected a price of $600 for the share price objective. Appian was mentioned in a research note that Credit Suisse Group published on September 23. In the note, the company announced that it would begin covering the company. They gave the stock a ” neutral ” rating and concluded that a price target of $45.00 was appropriate for it. In a research report released on November 7, Truist Financial lowered their “buy” rating and price target of $65.00, which they had previously assigned to Appian, to $50.00. The report was titled “Appian Research Update.” In a report released on Tuesday, October 18, Barclays gave the stock of Appian an “underweight” rating and lowered their price target for the company from $37.00 to $32.00. This change was made in response to the company’s weaker-than-expected performance. Four equity research experts have given the stock a buy recommendation, four equity research experts have given the stock a hold recommendation, and one equity research analyst has given the stock a sell suggestion. No additional ratings have been provided for the stock by any other analysts. According to a report published on the website Bloomberg.com, the current consensus price objective for the company is set at $47.78, and the average rating for the company is “Hold.”
Wednesday marked the day that the price of APPN shares hit an all-time high, reaching $34.01 per share. The stock price has reached $39.84 on its moving average over the past 50 days, while it has reached $44.91 on its moving average over the past 200 days. The company has a price-to-earnings ratio of -17.26 and a beta value of 1.56. The market capitalization of the company is $2.46 billion at present. Throughout Appian’s existence, the company’s stock price has fluctuated between a 52-week low of $33.02 and a 52-week high of $73.63.
On November 3, Appian (NASDAQ: APPN) made public the findings of its most recent financial report for the company’s quarterly period. The company announced a loss of $0.59 in earnings per share for the period, which was $0.27 more than the consensus expectation of $0.32 from industry analysts. The market as a whole predicted that the company would bring in $116.11 million in revenue for the quarter. Still, the actual sales for the company came in at $117.88 million, which is a significant increase from the prediction. Appian’s return on equity was negative by 53.25%, and its net margin was negative by 31.83%. Appian’s return on equity was negative overall. Appian’s quarterly revenue increased by 27.5% compared to the same period in the previous year’s financial year. In the financial statements for the previous year’s same quarter, the company reported earnings of $0.29 per share for that period. The projections of those knowledgeable in this field indicate that Appian will incur a loss equivalent to $1.86 per share during the current fiscal year.
According to reports in the news that related to the topic, on November 7, a company insider by the name of Robert Charles Kramer sold 3,145 shares of Appian stock. The stock was sold for $115,893.25, equivalent to an average selling price of $36.85 per share. The corporate insider now has direct ownership of 161,382 shares of the company’s stock, which have a value of $5,946,926.70 as a direct result of the transaction. If you follow the link, which takes you to a document submitted to the SEC, you can acquire additional information regarding the transaction. On November 8, General Counsel Christopher Winters sold 4,244 shares of the company’s stock. This piece of information is relevant to the topic at hand. The total cost of the transaction was $145,993.60, which works out to an average price of $34.40 per share when applied to the purchase of the shares. The completion of the sale has resulted in the general counsel now directly owns 45,210 shares of the corporation, each of which has a value of $1,555,224. In addition, the Securities and Exchange Commission was given legal documentation about the transaction, which can be viewed entirely by following the link provided in the previous sentence. The documentation was provided to the SEC.
On top of that, company insider Robert Charles Kramer sold 3,145 shares of the company’s stock on November 7. During the sale, each share was purchased at an average price of $36.85; as a result, the total value of the transaction was $115,893.25. Following the completion of the transaction, the company insider now directly owns 161,382 shares of the company. Based on the current stock price, these shares have an approximate value of $5,946,926.70. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company purchased 257,731 shares for a total of $10,784,035 and then sold 7,786 shares, resulting in a profit of $275,579. The company’s management and employees collectively own 43.50 percent of the total shares issued by the company.
Recently, hedge funds have adjusted how they currently hold onto the shares. The Arizona State Retirement System increased the amount of Appian stock owned by 2.9% over the second quarter. The Arizona State Retirement System now has a total of 9,383 shares of the company after purchasing an additional 265 shares during the preceding quarter. The value of the Arizona State Retirement System’s holdings in the company is currently $444,000. During the second quarter, Strs Ohio increased the amount of Appian stock owned by 6.0%, bringing its total ownership percentage to 100%. During the quarter, Strs Ohio made an additional purchase of 300 shares of the company. This brought the total number of shares they own in the company up to 5,300, with an equivalent value of $251,000. PNC Financial Services Group Inc. increased the amount of Appian stock owned by 13.7% during the first three months of 2018. After purchasing an additional 305 shares in the company during the most recent quarter, PNC Financial Services Group Inc. now has a total ownership stake equal to 2,527 shares, currently valued at $153,000. The Royal Bank of Canada increased the amount of Appian stock owned by 10.5% during the period that encompassed the third quarter. After making an additional purchase of 352 shares during the most recent period, Royal Bank of Canada now has 3,518 shares of the company’s stock, which is currently valued at $152,000. This is because the Royal Bank of Canada has increased its holdings during the most recent period. And finally, but certainly not least, throughout the second quarter, Captrust Financial Advisors increased the proportion of Appian stock it owns by 44.1%. Captrust Financial Advisors now has a total of 1,321 shares of the company’s stock, which has a value of $63,000, after purchasing an additional 404 shares during the period in question. This brings the total number of shares owned by the firm to 1,321. Currently, 51.78% of the company’s shares are owned by hedge funds and other institutional investors.
Appian Corporation, which has locations in the United States and other countries, provides a platform for automating low-code processes. Forms, workflows, data structures, reports, user interfaces, and other software components typically require hand-coded implementation and are constructed automatically by the platform utilized by the company. Because of this, there is no longer a need for manual coding. Additionally, the company offers its clients services in the areas of customer support and expert assistance.
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