Equities Analysts Set Expectations for Appian Co.’s Q1 2024 Earnings (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Analysts at William Blair lifted their Q1 2024 EPS estimates for Appian in a note issued to investors on Wednesday, April 17th. William Blair analyst J. Roberge now anticipates that the company will earn ($0.17) per share for the quarter, up from their prior estimate of ($0.25). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. William Blair also issued estimates for Appian’s Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.15) EPS and FY2024 earnings at ($0.89) EPS.

APPN has been the subject of several other research reports. KeyCorp increased their target price 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. DA Davidson lowered their target price 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. Citigroup increased their price target on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Finally, Barclays increased their price target on shares of Appian from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Monday. One investment 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. Based on data from MarketBeat, Appian presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.86.

Appian Trading Down 1.5 %

Shares of APPN opened at $34.86 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day moving average price of $36.42 and a 200 day moving average price of $37.03. Appian has a 12-month low of $30.87 and a 12-month high of $54.26.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $140.41 million.

Institutional Trading of Appian

Several hedge funds have recently added to or reduced their stakes in APPN. Quarry LP acquired a new stake in Appian in the first quarter valued at approximately $27,000. Headlands Technologies LLC acquired a new stake in Appian in the fourth quarter valued at approximately $47,000. Captrust Financial Advisors raised its holdings in Appian by 44.1% in the second quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after acquiring an additional 404 shares in the last quarter. FMR LLC increased its stake in Appian by 40.5% in the third quarter. FMR LLC now owns 1,824 shares of the company’s stock valued at $83,000 after purchasing an additional 526 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Appian by 144.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock valued at $86,000 after purchasing an additional 1,065 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the firm’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 sale, the insider now owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 43.60% of the stock is owned by corporate 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.