Appian (NASDAQ:APPN) Issues Q3 2024 Earnings Guidance

Appian (NASDAQ:APPN) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of -0.100–0.060 for the period, compared to the consensus EPS estimate of -0.080. The company issued revenue guidance of $149.0 million-$153.0 million, compared to the consensus revenue estimate of $151.9 million. Appian also updated its FY 2024 guidance to -0.610–0.520 EPS.

Analyst Ratings Changes

APPN has been the topic of a number of recent analyst reports. Barclays reduced their price objective on Appian from $32.00 to $29.00 and set an underweight rating on the stock in a research note on Monday, August 5th. KeyCorp downgraded shares of Appian from an overweight rating to a sector weight rating in a research note on Friday, August 2nd. William Blair lowered shares of Appian from an outperform rating to a market perform rating in a research report on Thursday, August 1st. The Goldman Sachs Group lowered their price target on shares of Appian from $47.00 to $41.00 and set a buy rating for the company in a report on Friday, August 2nd. Finally, DA Davidson downgraded Appian from a strong-buy rating to a hold rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $39.20.

Appian Trading Down 1.5 %

Shares of NASDAQ:APPN traded down $0.49 during trading on Friday, hitting $31.64. 208,254 shares of the company’s stock were exchanged, compared to its average volume of 540,386. The firm has a market cap of $2.29 billion, a P/E ratio of -21.23 and a beta of 1.57. The firm has a 50-day moving average price of $31.69 and a two-hundred day moving average price of $32.78. Appian has a 1-year low of $26.28 and a 1-year high of $44.28.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $142.87 million. During the same quarter in the previous year, the company posted ($0.55) EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts predict that Appian will post -1.07 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 150,000 shares of Appian stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $27.11 per share, with a total value of $4,066,500.00. Following the purchase, the insider now directly owns 8,255,847 shares of the company’s stock, valued at $223,816,012.17. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have purchased 1,761,776 shares of company stock worth $57,130,976. Insiders own 44.00% 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.