Appian (NASDAQ:APPN) Releases Q3 Earnings Guidance

Appian (NASDAQ:APPN) updated its third quarter earnings guidance on Friday. The company provided EPS guidance of ($0.10)-($0.06) for the period, compared to the consensus EPS estimate of ($0.09). The company issued revenue guidance of $149-153 million, compared to the consensus revenue estimate of $151.93 million. Appian also updated its FY24 guidance to ($0.61)-($0.52) EPS.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays cut their target price on shares of Appian from $32.00 to $29.00 and set an underweight rating on the stock in a research note on Monday, August 5th. The Goldman Sachs Group dropped their target price on Appian from $47.00 to $41.00 and set a buy rating on the stock in a report on Friday, August 2nd. KeyCorp cut shares of Appian from an overweight rating to a sector weight rating in a report on Friday, August 2nd. William Blair lowered shares of Appian from an outperform rating to a market perform rating in a research note on Thursday, August 1st. Finally, DA Davidson lowered shares of Appian from a strong-buy rating to a hold rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $39.20.

Appian Price Performance

Appian stock opened at $32.13 on Friday. Appian has a one year low of $26.28 and a one year high of $44.28. The business has a 50 day simple moving average of $31.64 and a 200 day simple moving average of $32.78. The company has a market capitalization of $2.32 billion, a PE ratio of -21.56 and a beta of 1.57.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The company had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. During the same quarter in the previous year, the company posted ($0.55) earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Appian will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were bought at an average cost of $33.75 per share, with a total value of $346,443.75. Following the acquisition, the insider now owns 10,179,538 shares in the company, valued at $343,559,407.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 1,761,776 shares of company stock worth $57,130,976 over the last quarter. 44.00% of the stock is currently owned by company insiders.

Appian Company Profile

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.