Needham Issues a Hold Rating on Appian (APPN)
Needham analyst Jack Andrews assigned a Hold rating to Appian (APPN) today. The company’s shares closed last Wednesday at $45.58.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 18.0% and a 62.4% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and ServiceNow.
The word on The Street in general, suggests a Hold analyst consensus rating for Appian with a $42.00 average price target, which is a -13.4% downside from current levels. In a report issued on May 8, Barclays also maintained a Hold rating on the stock with a $43.00 price target.
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The company has a one-year high of $63.77 and a one-year low of $29.07. Currently, Appian has an average volume of 1.26M.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.