Appian Corporation (NASDAQ:APPN) had its price objective lifted by Morgan Stanley from $18.00 to $19.00 in a report published on Friday morning. Morgan Stanley currently has an equal weight rating on the stock.
A number of other research analysts have also recently commented on the stock. Canaccord Genuity increased their price target on shares of Appian Corporation from $19.00 to $22.00 and gave the company a hold rating in a research report on Monday, October 30th. Zacks Investment Research lowered Appian Corporation from a buy rating to a hold rating in a research note on Monday, October 16th. Cowen and Company lowered Appian Corporation from an outperform rating to a market perform rating and set a $23.00 price objective for the company. in a research note on Monday, October 2nd. KeyCorp reissued a hold rating on shares of Appian Corporation in a research note on Monday, September 18th. Finally, Barclays PLC reissued an equal weight rating and set a $20.00 price objective (up previously from $19.00) on shares of Appian Corporation in a research note on Friday, August 4th. Seven investment analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average price target of $21.83.
Shares of Appian Corporation (NASDAQ:APPN) traded down $1.66 during midday trading on Friday, reaching $22.66. 292,914 shares of the company’s stock were exchanged, compared to its average volume of 118,761.
COPYRIGHT VIOLATION NOTICE: This piece was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/11/05/appian-corporation-appn-price-target-increased-to-19-00-by-analysts-at-morgan-stanley.html.
In other Appian Corporation news, major shareholder Qualified Master Fund L. Abdiel purchased 28,800 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was bought at an average price of $22.14 per share, with a total value of $637,632.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel purchased 65,533 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was acquired at an average cost of $22.23 per share, with a total value of $1,456,798.59. The disclosure for this purchase can be found here. In the last three months, insiders have bought 146,376 shares of company stock valued at $3,249,007.
A number of hedge funds have recently made changes to their positions in APPN. Abdiel Capital Advisors LP purchased a new stake in Appian Corporation in the second quarter worth $56,982,000. JPMorgan Chase & Co. purchased a new stake in Appian Corporation in the second quarter worth $8,303,000. Lord Abbett & CO. LLC purchased a new stake in Appian Corporation in the second quarter worth $8,134,000. Vanguard Group Inc. purchased a new stake in Appian Corporation in the second quarter worth $7,105,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in Appian Corporation in the second quarter worth $5,282,000. 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.
Receive News & Ratings for Appian Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian Corporation and related companies with MarketBeat.com's FREE daily email newsletter.