Appian (NASDAQ:APPN) Updates FY20 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY20 earnings guidance on Thursday. The company provided earnings per share guidance of (0.58-0.55) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.36). The company issued revenue guidance of $296-298 million, compared to the consensus revenue estimate of $309.30 million.Appian also updated its FY 2020
After-Hours guidance to -0.58–0.55 EPS.

A number of brokerages recently issued reports on APPN. William Blair reissued a buy rating on shares of Appian in a research note on Friday. BidaskClub raised Appian from a buy rating to a strong-buy rating in a research note on Saturday, February 15th. Zacks Investment Research raised Appian from a hold rating to a buy rating and set a $59.00 price target for the company in a research note on Thursday, January 16th. Needham & Company LLC lowered Appian from a buy rating to a hold rating in a research note on Wednesday. Finally, Cowen raised their price target on Appian from $42.00 to $48.00 and gave the stock a market perform rating in a research note on Friday. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $46.16.

Shares of APPN stock traded down $14.03 on Friday, reaching $48.65. 5,650,485 shares of the company’s stock were exchanged, compared to its average volume of 824,014. Appian has a 52 week low of $30.43 and a 52 week high of $63.77. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $4.21 billion, a PE ratio of -63.18 and a beta of 0.76. The company’s fifty day simple moving average is $50.67 and its 200 day simple moving average is $47.60.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.02). The business had revenue of $68.62 million for the quarter, compared to the consensus estimate of $69.78 million. Appian had a negative return on equity of 54.58% and a negative net margin of 18.96%. Appian’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. As a group, sell-side analysts predict that Appian will post -0.51 earnings per share for the current fiscal year.

In other Appian news, VP David Leon Mitchell sold 750 shares of Appian stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $44.53, for a total transaction of $33,397.50. Following the completion of the sale, the vice president now directly owns 9,797 shares of the company’s stock, valued at approximately $436,260.41. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Prashanth Boccassam sold 3,000 shares of Appian stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $40.31, for a total value of $120,930.00. Following the sale, the director now directly owns 96,913 shares of the company’s stock, valued at $3,906,563.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,750 shares of company stock valued at $1,199,028. 50.00% of the stock is currently owned by corporate insiders.

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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