Barclays has revised its price target for Appian (APPN, Financial), reducing it from $37 to $28, while maintaining an Underweight rating on the stock. This adjustment is part of the bank's earnings preview for U.S. software companies in the first quarter. According to Barclays, the upcoming earnings report is unlikely to serve as a significant catalyst for stocks within the sector.
The firm mentioned that while current channel checks show some weakness, the situation is not dire. Nevertheless, investors are expected to pay more attention to the companies' future guidance rather than past performance. Barclays indicates that most management teams are unlikely to make substantial revisions to their figures for the first quarter, given its smaller impact relative to other quarters. As a result, the firm anticipates a period of uncertainty, or "limbo," until the second quarter results are released.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Appian Corp (APPN, Financial) is $38.00 with a high estimate of $53.00 and a low estimate of $27.00. The average target implies an upside of 43.13% from the current price of $26.55. More detailed estimate data can be found on the Appian Corp (APPN) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Appian Corp's (APPN, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Appian Corp (APPN, Financial) in one year is $56.05, suggesting a upside of 111.11% from the current price of $26.55. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Appian Corp (APPN) Summary page.
