Appian (NASDAQ:APPN) Updates FY24 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($0.85)-($0.79) for the period, compared to the consensus estimate of ($0.68). The company issued revenue guidance of $615-617 million, compared to the consensus revenue estimate of $615.63 million. Appian also updated its Q2 guidance to ($0.34)-($0.28) EPS.

Appian Trading Up 3.1 %

Appian stock traded up $0.95 during mid-day trading on Friday, hitting $31.98. 795,544 shares of the company’s stock traded hands, compared to its average volume of 577,887. Appian has a fifty-two week low of $28.22 and a fifty-two week high of $54.26. The firm has a 50 day simple moving average of $36.71 and a two-hundred day simple moving average of $36.45. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. The company had revenue of $145.32 million during the quarter, compared to analysts’ expectations of $140.41 million. On average, analysts anticipate that Appian will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

APPN has been the topic of a number of recent research reports. DA Davidson lowered their target price on Appian from $55.00 to $52.00 and set a buy rating on the stock in a research note on Monday, March 4th. Citigroup increased their price objective on Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. KeyCorp reduced their target price on shares of Appian from $50.00 to $37.00 and set an overweight rating for the company in a research report on Friday. Barclays decreased their price target on shares of Appian from $36.00 to $32.00 and set an underweight rating on the stock in a research note on Friday. Finally, William Blair reiterated an outperform rating on shares of Appian in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $46.43.

Insider Activity at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now directly owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 43.60% of the stock is owned by insiders.

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.