$55.67 Million in Sales Expected for Appian Corp (APPN) This Quarter

Brokerages predict that Appian Corp (NASDAQ:APPN) will announce $55.67 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Appian’s earnings, with the highest sales estimate coming in at $55.72 million and the lowest estimate coming in at $55.60 million. Appian posted sales of $50.56 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The company is expected to announce its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that Appian will report full-year sales of $222.18 million for the current financial year, with estimates ranging from $222.06 million to $222.30 million. For the next financial year, analysts expect that the business will post sales of $255.11 million, with estimates ranging from $250.90 million to $259.19 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Appian.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The company had revenue of $54.95 million during the quarter, compared to analysts’ expectations of $49.73 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis.

A number of research analysts have weighed in on the stock. BidaskClub raised shares of Appian from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Barclays raised shares of Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price objective for the company in a report on Monday, October 15th. Finally, Zacks Investment Research cut shares of Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Appian has an average rating of “Hold” and a consensus price target of $27.67.

APPN traded down $2.57 on Thursday, reaching $26.65. The stock had a trading volume of 902,614 shares, compared to its average volume of 506,266. Appian has a 12-month low of $19.84 and a 12-month high of $43.61. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -43.69 and a beta of 1.89.

In related news, major shareholder Qualified Master Fund L. Abdiel bought 185,682 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was acquired at an average price of $25.15 per share, with a total value of $4,669,902.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward L. Hughes sold 20,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $29.98, for a total transaction of $599,600.00. Following the sale, the vice president now directly owns 134,364 shares of the company’s stock, valued at approximately $4,028,232.72. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,265,849 shares of company stock valued at $33,111,919 and have sold 102,645 shares valued at $2,941,914. 64.00% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in APPN. Vanguard Group Inc. boosted its position in Appian by 78.1% during the third quarter. Vanguard Group Inc. now owns 1,930,924 shares of the company’s stock worth $63,914,000 after acquiring an additional 847,007 shares during the last quarter. Vanguard Group Inc boosted its position in Appian by 78.1% during the third quarter. Vanguard Group Inc now owns 1,930,924 shares of the company’s stock worth $63,914,000 after acquiring an additional 847,007 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Appian during the third quarter worth about $13,801,000. Frontier Capital Management Co. LLC acquired a new position in Appian during the second quarter worth about $10,308,000. Finally, Oakcliff Capital Partners LP acquired a new position in Appian during the second quarter worth about $8,434,000. 22.20% of the stock is owned by institutional investors and hedge funds.

About Appian

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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