Appian (NASDAQ:APPN) Issues Q3 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share guidance of ($0.10)-($0.06) for the period, compared to the consensus earnings per share 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 FY 2024 guidance to -0.610–0.520 EPS.

Analyst Ratings Changes

A number of brokerages have issued reports on APPN. William Blair lowered shares of Appian from an outperform rating to a market perform rating in a report on Thursday, August 1st. KeyCorp cut shares of Appian from an overweight rating to a sector weight rating in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their price target on shares of Appian from $47.00 to $41.00 and set a buy rating on the stock in a research note on Friday, August 2nd. DA Davidson lowered Appian from a strong-buy rating to a hold rating in a research report on Wednesday, July 31st. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $39.20.

Appian Stock Down 2.6 %

Appian stock opened at $31.31 on Monday. Appian has a 52-week low of $26.28 and a 52-week high of $44.28. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -21.30 and a beta of 1.57. The firm’s fifty day moving average is $31.72 and its 200 day moving average is $32.65.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. The firm had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.55) EPS. On average, equities research analysts anticipate that Appian will post -1.07 earnings per share for the current fiscal year.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $27.11 per share, for a total transaction of $4,066,500.00. Following the acquisition, the insider now owns 8,255,847 shares of the company’s stock, valued at approximately $223,816,012.17. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders purchased 1,761,776 shares of company stock worth $57,130,976. 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.