Needham analyst Jack Andrews assigned a Buy rating to Appian (APPN) today and set a price target of $94.00. The company’s shares closed last Thursday at $75.22.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 26.1% and a 67.5% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and Pegasystems.
The word on The Street in general, suggests a Hold analyst consensus rating for Appian with a $63.67 average price target.
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Based on Appian’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $66.78 million and GAAP net loss of $11.82 million. In comparison, last year the company earned revenue of $65.28 million and had a GAAP net loss of $10.05 million.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APPN in relation to earlier this year.
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Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, V A.
