Appian Corporation (APPN) Price Target Increased to $19.00 by Analysts at Morgan Stanley

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.

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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.

Analyst Recommendations for Appian Corporation (NASDAQ:APPN)

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