Appian (NASDAQ:APPN) Releases FY 2024 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of -0.380–0.350 for the period, compared to the consensus estimate of -0.550. The company issued revenue guidance of $613.0 million-$615.0 million, compared to the consensus revenue estimate of $611.8 million.

Appian Trading Up 2.0 %

Shares of NASDAQ APPN opened at $37.85 on Friday. The firm has a 50 day moving average of $35.11 and a 200 day moving average of $32.59. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -31.02 and a beta of 1.57. Appian has a 12-month low of $26.28 and a 12-month high of $43.33.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on APPN shares. DA Davidson restated a “neutral” rating and set a $33.00 target price on shares of Appian in a research report on Monday, October 14th. Barclays upped their price target on shares of Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Appian has a consensus rating of “Hold” and an average price target of $40.20.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average price of $33.75 per share, with a total value of $346,443.75. Following the completion of the acquisition, the insider now owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. This represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 121,107 shares of company stock worth $3,871,494 over the last three months. 44.00% of the stock is currently owned by company insiders.

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.