Fintel reports that on January 6, 2025, Scotiabank initiated coverage of Appian (NasdaqGM:APPN) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 20.17% Upside
As of December 23, 2024, the average one-year price target for Appian is $41.82/share. The forecasts range from a low of $32.32 to a high of $55.65. The average price target represents an increase of 20.17% from its latest reported closing price of $34.80 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Appian is 702MM, an increase of 17.83%. The projected annual non-GAAP EPS is -0.97.
What is the Fund Sentiment?
There are 350 funds or institutions reporting positions in Appian. This is an increase of 7 owner(s) or 2.04% in the last quarter. Average portfolio weight of all funds dedicated to APPN is 0.23%, an increase of 10.92%. Total shares owned by institutions increased in the last three months by 13.04% to 37,951K shares. 
The put/call ratio of APPN is 0.38, indicating a bullish outlook.
What are Other Shareholders Doing?
Abdiel Capital Advisors holds 10,169K shares representing 24.47% ownership of the company. In its prior filing, the firm reported owning 5,890K shares , representing an increase of 42.08%. The firm increased its portfolio allocation in APPN by 63.60% over the last quarter.
Lead Edge Capital Management holds 1,445K shares representing 3.48% ownership of the company. In its prior filing, the firm reported owning 1,157K shares , representing an increase of 19.94%. The firm increased its portfolio allocation in APPN by 25.36% over the last quarter.
Baillie Gifford holds 1,387K shares representing 3.34% ownership of the company. In its prior filing, the firm reported owning 1,444K shares , representing a decrease of 4.12%. The firm decreased its portfolio allocation in APPN by 61.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,309K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 1,307K shares , representing an increase of 0.11%. The firm increased its portfolio allocation in APPN by 4.03% over the last quarter.
First Trust Advisors holds 1,180K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 1,117K shares , representing an increase of 5.32%. The firm increased its portfolio allocation in APPN by 9.02% over the last quarter.
Appian Background Information
(This description is provided by the company.)
Appian helps organizations build apps and workflows rapidly, with a low-code automation platform. Combining people, technologies, and data in a single workflow, Appian can help companies maximize their resources and improve business results. Many of the world's largest organizations use Appian applications to improve customer experience, achieve operational excellence, and simplify global risk management and compliance.
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This story originally appeared on Fintel.
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