Macquarie lifts Appian Corporation [APPN] price estimate. Who else is bullish?

Appian Corporation [NASDAQ: APPN] price plunged by -11.77 percent to reach at -$20.99. The company report on February 22, 2021 that Appian Named a 2021 Gartner Peer Insights Customers’ Choice for Enterprise Low-Code Application Platforms.

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Appian customers can rapidly build apps and workflows with low-code RPA, low-code data, and native intelligent document processing in the new version of the Appian Low-code Automation Platform.

Appian (NASDAQ: APPN) announced that it has been recognized as a 2021 Gartner Peer Insights Customers’ Choice for Enterprise Low-Code Application Platforms (LCAP). Appian is the only vendor to receive this distinction in the categories for Global Enterprises ($10B+ USD), Large Enterprises, North America, and the Finance industry.

A sum of 1187418 shares traded at recent session while its average daily volume was at 1.33M shares. Appian Corporation shares reached a high of $180.335 and dropped to a low of $156.34 until finishing in the latest session at $157.35.

The one-year APPN stock forecast points to a potential downside of -9.08. The average equity rating for APPN stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Appian Corporation [APPN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APPN shares is $144.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APPN stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Macquarie have made an estimate for Appian Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 06, 2021. The new note on the price target was released on December 01, 2020, representing the official price target for Appian Corporation stock. Previously, the target price had yet another raise from $48 to $84, while Goldman kept a Neutral rating on APPN stock.

The Average True Range (ATR) for Appian Corporation is set at 20.70, with the Price to Sales ratio for APPN stock in the period of the last 12 months amounting to 35.90. The Price to Book ratio for the last quarter was 37.29, with the Price to Cash per share for the same quarter was set at 3.20.

APPN Stock Performance Analysis:

Appian Corporation [APPN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.31. With this latest performance, APPN shares dropped by -25.45% in over the last four-week period, additionally plugging by 156.94% over the last 6 months – not to mention a rise of 235.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APPN stock in for the last two-week period is set at 37.08, with the RSI for the last a single of trading hit 30.62, and the three-weeks RSI is set at 41.95 for Appian Corporation [APPN]. The present Moving Average for the last 50 days of trading for this stock 183.99, while it was recorded at 172.71 for the last single week of trading, and 100.56 for the last 200 days.

Insight into Appian Corporation Fundamentals:

Appian Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

APPN Stock EPS

With the latest financial reports released by the company, Appian Corporation posted -0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APPN.

Appian Corporation [APPN] Insider Position Details

There are presently around $4,695 million, or 81.60% of APPN stock, in the hands of institutional investors. The top three institutional holders of APPN stocks are: BAILLIE GIFFORD & CO with ownership of 6,142,402, which is approximately 4.102% of the company’s market cap and around 0.30% of the total institutional ownership; ABDIEL CAPITAL ADVISORS, LP, holding 6,131,078 shares of the stock with an approximate value of $964.73 million in APPN stocks shares; and VANGUARD GROUP INC, currently with $546.41 million in APPN stock with ownership of nearly 3.016% of the company’s market capitalization.

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197 institutional holders increased their position in Appian Corporation [NASDAQ:APPN] by around 4,808,017 shares. Additionally, 94 investors decreased positions by around 5,998,998 shares, while 32 investors held positions by with 19,029,967 shares. The mentioned changes placed institutional holdings at 29,836,982 shares, according to the latest SEC report filing. APPN stock had 112 new institutional investments in for a total of 2,322,359 shares, while 29 institutional investors sold positions of 897,342 shares during the same period.

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