KeyCorp Reaffirms Hold Rating for Appian Corporation (APPN)

KeyCorp restated their hold rating on shares of Appian Corporation (NASDAQ:APPN) in a report released on Monday. KeyCorp also issued estimates for Appian Corporation’s Q3 2017 earnings at ($0.14) EPS, Q4 2017 earnings at ($0.17) EPS, FY2017 earnings at ($0.46) EPS, Q1 2018 earnings at ($0.12) EPS, Q2 2018 earnings at ($0.14) EPS, Q3 2018 earnings at ($0.13) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.52) EPS and FY2019 earnings at ($0.39) EPS.

Several other equities analysts have also commented on APPN. Canaccord Genuity upped their price target on shares of Appian Corporation from $18.00 to $19.00 and gave the stock a hold rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Appian Corporation from a hold rating to a buy rating and set a $30.00 price target for the company in a research report on Wednesday, September 13th. Barclays PLC reaffirmed an equal weight rating and set a $20.00 price target (up previously from $19.00) on shares of Appian Corporation in a research report on Friday, August 4th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Appian Corporation in a research report on Monday, June 19th. They set a neutral rating and a $17.00 price target for the company. Finally, Morgan Stanley assumed coverage on shares of Appian Corporation in a research report on Monday, June 19th. They set an equal weight rating and a $18.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $20.80.

Appian Corporation (APPN) opened at 23.70 on Monday. The company’s 50 day moving average is $22.60 and its 200-day moving average is $20.31. The stock’s market cap is $1.42 billion. Appian Corporation has a 52-week low of $14.60 and a 52-week high of $27.89.

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In other Appian Corporation news, major shareholder Qualified Master Fund L. Abdiel acquired 127,217 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was bought at an average price of $17.57 per share, with a total value of $2,235,202.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Qualified Master Fund L. Abdiel acquired 860,926 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was acquired at an average cost of $18.08 per share, with a total value of $15,565,542.08. The disclosure for this purchase can be found here. Insiders bought 1,781,126 shares of company stock valued at $32,734,054 in the last three months.

Institutional investors have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. acquired a new stake in shares of Appian Corporation in the second quarter worth $2,716,000. Spark Investment Management LLC acquired a new stake in shares of Appian Corporation in the second quarter worth $2,355,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Appian Corporation in the second quarter worth $5,282,000. Laurion Capital Management LP acquired a new stake in shares of Appian Corporation in the second quarter worth $3,176,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Appian Corporation in the second quarter worth $499,000. 11.61% of the stock is owned by institutional investors.

Appian Corporation Company Profile

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

Analyst Recommendations for Appian Corporation (NASDAQ:APPN)

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