Appian (NASDAQ:APPN) Updates FY24 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of ($0.61)-($0.52) for the period, compared to the consensus estimate of ($0.55). The company issued revenue guidance of $610-615 million, compared to the consensus revenue estimate of $612.04 million. Appian also updated its Q3 guidance to ($0.10)-($0.06) EPS.

Analyst Upgrades and Downgrades

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

Appian Stock Down 0.6 %

NASDAQ APPN opened at $32.13 on Friday. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $44.28. The business has a fifty day moving average of $31.64 and a 200-day moving average of $32.78. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -21.56 and a beta of 1.57.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The firm 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) EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, analysts anticipate that Appian will post -1.07 EPS for the current year.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 200,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $35.29 per share, for a total transaction of $7,058,000.00. Following the completion of the acquisition, the insider now directly owns 7,345,647 shares of the company’s stock, valued at $259,227,882.63. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 1,761,776 shares of company stock valued at $57,130,976. Company insiders own 44.00% of the company’s stock.

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.