Appian (NASDAQ:APPN) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $-0.16–0.15 for the period, compared to the Thomson Reuters consensus estimate of $-0.11. The company issued revenue guidance of $65-65.5 million, compared to the consensus revenue estimate of $64.44 million.Appian also updated its FY 2019 guidance to $-0.55–0.51 EPS.
APPN traded up $8.21 on Friday, hitting $51.45. 2,622,578 shares of the stock were exchanged, compared to its average volume of 500,473. Appian has a 12 month low of $22.61 and a 12 month high of $43.58. The company has a 50-day moving average of $38.10. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -64.31 and a beta of 1.40.
Appian (NASDAQ:APPN) last posted its quarterly earnings data 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. Appian had a negative net margin of 23.12% and a negative return on equity of 76.23%. The business had revenue of $66.90 million during the quarter, compared to analysts’ expectations of $63.44 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Appian’s revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Appian will post -0.83 earnings per share for the current year.
In other news, insider Robert Charles Kramer sold 48,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $40.76, for a total value of $1,956,480.00. Following the completion of the transaction, the insider now owns 66,363 shares of the company’s stock, valued at $2,704,955.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Leon Mitchell sold 1,871 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $39.42, for a total value of $73,754.82. Following the completion of the transaction, the vice president now directly owns 12,958 shares of the company’s stock, valued at approximately $510,804.36. The disclosure for this sale can be found here. Insiders sold 178,835 shares of company stock valued at $6,673,884 in the last three months. Company insiders own 50.00% of the company’s stock.
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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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