Growth Story Still Intact For Appian Corp (APPN)

Appian Corp (APPN) concluded trading on Thursday at a closing price of $39.95, with 0.49 million shares of worth about $19.38 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -7.44% during that period and on March 28, 2024 the price saw a gain of about 1.86%. Currently the company’s common shares owned by public are about 42.17M shares, out of which, 41.04M shares are available for trading.

Stock saw a price change of 2.28% in past 5 days and over the past one month there was a price change of 16.64%. Year-to-date (YTD), APPN shares are showing a performance of 6.08% which decreased to -0.94% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $30.87 but also hit the highest price of $54.26 during that period. The average intraday trading volume for Appian Corp shares is 491.68K. The stock is currently trading 9.25% above its 20-day simple moving average (SMA20), while that difference is up 15.12% for SMA50 and it goes to -3.14% lower than SMA200.

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Appian Corp (NASDAQ: APPN) currently have 42.17M outstanding shares and institutions hold larger chunk of about 43.72% of that.

The stock has a current market capitalization of $2.93B and its 3Y-monthly beta is at 1.45. It has posted earnings per share of -$1.53 in the same period. It has Quick Ratio of 1.02 while making debt-to-equity ratio of 5.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for APPN, volatility over the week remained 4.05% while standing at 4.72% over the month.

Analysts are in expectations that Appian Corp (APPN) stock would likely to be making an EPS of -$0.18 in the current quarter, while forecast for next quarter EPS is -$0.29 and it is -$0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.2 which is -$0.16 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.27 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 19.73% while it is estimated to increase by 85.24% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on January 11, 2024 offering a Buy rating for the stock and assigned a target price range of between $47 and $45 to it. Coverage by DA Davidson stated Appian Corp (APPN) stock as a Buy in their note to investors on November 07, 2023, suggesting a price target of $55 for the stock. On June 06, 2023, DA Davidson Initiated their recommendations, while on January 09, 2023, SMBC Nikko Downgrade their ratings for the stock with a price target of $23. Stock get a Neutral rating from SMBC Nikko on December 21, 2022.

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