Appian (NASDAQ:APPN) Releases FY 2019 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $-0.55–0.51 for the period, compared to the Thomson Reuters consensus estimate of $-0.53. The company issued revenue guidance of $260.5-262.5 million, compared to the consensus revenue estimate of $256.93 million.Appian also updated its Q3 2019 guidance to $-0.16–0.15 EPS.

A number of research analysts have issued reports on the company. SunTrust Banks boosted their price target on Appian from $32.00 to $46.00 and gave the company a hold rating in a report on Friday. BidaskClub raised Appian from a buy rating to a strong-buy rating in a report on Thursday. William Blair raised Appian from a market perform rating to an outperform rating and set a $35.10 price target for the company in a report on Thursday, May 16th. Barclays reissued a hold rating and issued a $32.00 price target on shares of Appian in a report on Sunday, May 5th. Finally, Morgan Stanley raised Appian from an underweight rating to an equal weight rating and upped their target price for the stock from $30.00 to $36.00 in a research note on Thursday, May 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $35.59.

Shares of APPN stock traded up $8.21 during trading hours on Friday, hitting $51.45. 2,622,578 shares of the company’s stock were exchanged, compared to its average volume of 500,473. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -64.31 and a beta of 1.40. The business’s 50 day moving average price is $38.10. Appian has a fifty-two week low of $22.61 and a fifty-two week high of $43.58.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The business had revenue of $66.90 million during the quarter, compared to the consensus estimate of $63.44 million. Appian had a negative return on equity of 76.23% and a negative net margin of 23.12%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) EPS. On average, analysts anticipate that Appian will post -0.83 EPS for the current year.

In related news, CFO Mark Steven Lynch sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $34.14, for a total transaction of $512,100.00. Following the completion of the sale, the chief financial officer now directly owns 16,950 shares in the company, valued at $578,673. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Leon Mitchell sold 1,871 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $39.42, for a total value of $73,754.82. Following the sale, the vice president now owns 12,958 shares of the company’s stock, valued at $510,804.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,835 shares of company stock valued at $6,673,884. Corporate insiders own 50.00% of the company’s stock.

Appian Company Profile

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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