Brokers Set Expectations for Appian Co.’s Q2 2024 Earnings (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Appian in a research note issued to investors on Friday, May 3rd. DA Davidson analyst G. Luria expects that the company will post earnings per share of ($0.35) for the quarter. DA Davidson currently has a “Buy” rating and a $52.00 price target on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.90) per share.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. The company had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. Appian’s revenue was up 10.8% on a year-over-year basis.

APPN has been the subject of a number of other reports. KeyCorp dropped their price objective on Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Barclays cut 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, May 3rd. Finally, 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 note on Friday, March 22nd. One investment 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 stock currently has an average rating of “Moderate Buy” and an average target price of $46.43.

Appian Stock Down 3.5 %

Appian stock opened at $31.83 on Monday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average price of $36.68 and a 200 day moving average price of $36.28. Appian has a fifty-two week low of $28.22 and a fifty-two week high of $54.26. The company has a market capitalization of $2.34 billion, a PE ratio of -21.65 and a beta of 1.46.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian 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 owns 5,890,304 shares in the company, valued at $191,081,461.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APPN. Vanguard Group Inc. boosted its holdings in Appian by 3.4% in the third quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock valued at $207,824,000 after purchasing an additional 147,785 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Appian in the 4th quarter valued at $308,000. Charles Schwab Investment Management Inc. raised its stake in Appian by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 319,750 shares of the company’s stock worth $14,584,000 after acquiring an additional 9,900 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Appian in the third quarter valued at $14,884,000. Finally, Graham Capital Management L.P. acquired a new position in Appian in the third quarter valued at $560,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.