Appian (NASDAQ:APPN) Issues Q2 Earnings Guidance

Appian (NASDAQ:APPN) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of ($0.34)-($0.28) for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

Several brokerages recently issued reports on APPN. Barclays cut their price target on shares of Appian from $36.00 to $32.00 and set an underweight rating for the company in a report on Friday. DA Davidson cut their price target on shares of Appian from $55.00 to $52.00 and set a buy rating for the company in a report on Monday, March 4th. Citigroup raised their price objective on shares of Appian from $48.00 to $52.00 and gave the company a neutral rating in a research report on Friday, March 22nd. KeyCorp lowered their price objective on shares of Appian from $50.00 to $37.00 and set an overweight rating for the company in a research report on Friday. Finally, William Blair restated an outperform rating on shares of Appian in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $46.43.

Appian Trading Up 3.1 %

APPN traded up $0.95 during midday trading on Friday, hitting $31.98. The company had a trading volume of 795,544 shares, compared to its average volume of 577,887. Appian has a twelve month low of $28.22 and a twelve month high of $54.26. The firm’s 50-day simple moving average is $36.71 and its 200-day simple moving average is $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 issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.33. The company had revenue of $145.32 million during the quarter, compared to analysts’ expectations of $140.41 million. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. On average, analysts forecast that Appian will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total transaction 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 transaction 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.