Appian (NASDAQ:APPN) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Appian (NASDAQ:APPN) released its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05, Briefing.com reports. Appian had a negative return on equity of 234.57% and a negative net margin of 18.80%. The company had revenue of $146.50 million for the quarter, compared to the consensus estimate of $142.87 million. During the same quarter last year, the business posted ($0.55) EPS. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis.

Appian Stock Up 1.4 %

Appian stock traded up $0.41 during midday trading on Friday, reaching $29.84. The stock had a trading volume of 1,307,094 shares, compared to its average volume of 927,254. Appian has a 12 month low of $26.28 and a 12 month high of $52.99. The company has a market capitalization of $2.16 billion, a P/E ratio of -20.30 and a beta of 1.47. The company has a fifty day moving average price of $31.20 and a two-hundred day moving average price of $33.72. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday. Barclays lowered their target price on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group lowered their target price on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday. Finally, DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Appian presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Insider Activity at Appian

In related news, Director Albert G.W. Biddle III purchased 3,225 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the purchase, the director now owns 19,689 shares of the company’s stock, valued at $551,685.78. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Appian news, Director Albert G.W. Biddle III bought 3,225 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the purchase, the director now directly owns 19,689 shares of the company’s stock, valued at $551,685.78. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Abdiel Capital Advisors, Lp bought 150,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $37.76 per share, for a total transaction of $5,664,000.00. Following the purchase, the insider now directly owns 7,805,847 shares in the company, valued at $294,748,782.72. The disclosure for this purchase can be found here. Insiders bought 1,381,568 shares of company stock valued at $46,783,802 in the last three months. Corporate insiders own 44.00% of the company’s stock.

About Appian

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.