Appian (NASDAQ:APPN) Updates Q2 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.34)-($0.28) for the period, compared to the consensus earnings per share estimate of ($0.30). The company issued revenue guidance of $140-144 million, compared to the consensus revenue estimate of $145.00 million. Appian also updated its FY24 guidance to ($0.85)-($0.79) EPS.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research note on Friday, March 22nd. Barclays upped their price objective on shares of Appian from $35.00 to $36.00 and gave the stock an underweight rating in a research note on Monday, April 15th. William Blair reaffirmed an outperform rating on shares of Appian in a research note on Wednesday, March 20th. DA Davidson lowered their price objective on shares of Appian from $55.00 to $52.00 and set a buy rating for the company in a research note on Monday, March 4th. Finally, KeyCorp upped their price objective on shares of Appian from $45.00 to $50.00 and gave the stock an overweight rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Appian has a consensus rating of Moderate Buy and an average target price of $48.86.

Appian Stock Down 1.9 %

APPN stock opened at $36.73 on Thursday. The firm has a 50-day simple moving average of $36.75 and a two-hundred day simple moving average of $36.61. Appian has a one year low of $30.87 and a one year high of $54.26. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The firm had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million. As a group, research analysts forecast that Appian will post -0.9 earnings per share for the current year.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the transaction, the insider now owns 5,890,304 shares in the company, valued at $191,081,461.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 43.60% of the company’s stock.

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.