Appian Corporation’s (APPN) Hold Rating Reaffirmed at KeyCorp

KeyCorp reaffirmed their hold rating on shares of Appian Corporation (NASDAQ:APPN) in a research report sent to investors on Monday morning.

A number of other brokerages have also issued reports on APPN. Barclays PLC started coverage on shares of Appian Corporation in a research note on Monday, June 19th. They set an equal weight rating and a $19.00 price target on the stock. Zacks Investment Research lowered shares of Appian Corporation from a buy rating to a hold rating in a research note on Monday, September 4th. Goldman Sachs Group, Inc. (The) started coverage on shares of Appian Corporation in a research note on Monday, June 19th. They set a neutral rating and a $17.00 price target on the stock. Canaccord Genuity started coverage on shares of Appian Corporation in a research note on Monday, June 19th. They set a hold rating and a $18.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Appian Corporation in a research note on Monday, June 19th. They set an equal weight rating and a $18.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Appian Corporation has an average rating of Hold and an average target price of $20.80.

Shares of Appian Corporation (NASDAQ:APPN) opened at 25.07 on Monday. The stock’s 50 day moving average is $22.44 and its 200 day moving average is $20.25. Appian Corporation has a 1-year low of $14.60 and a 1-year high of $27.89. The stock’s market capitalization is $1.51 billion.

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In related news, major shareholder Qualified Master Fund L. Abdiel acquired 127,217 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were purchased at an average price of $17.57 per share, with a total value of $2,235,202.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Qualified Master Fund L. Abdiel acquired 860,926 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were bought at an average cost of $18.08 per share, for a total transaction of $15,565,542.08. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 1,781,126 shares of company stock worth $32,734,054.

Hedge funds have recently added to or reduced their stakes in the stock. LMR Partners LLP purchased a new stake in Appian Corporation during the second quarter worth about $201,000. Tower Research Capital LLC TRC purchased a new stake in Appian Corporation during the second quarter worth about $238,000. Neuberger Berman Group LLC purchased a new stake in Appian Corporation during the second quarter worth about $292,000. Ameriprise Financial Inc. purchased a new stake in Appian Corporation during the second quarter worth about $323,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Appian Corporation during the second quarter worth about $370,000. 11.61% of the stock is currently owned by hedge funds and other 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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