Appian (NASDAQ:APPN – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.24, reports. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The business had revenue of $154.05 million during the quarter, compared to analyst estimates of $150.94 million. Appian updated its Q4 guidance to $(0.03)-$0.00 EPS and its Q4 2024 guidance to -0.030-0.000 EPS.
Appian Stock Down 1.9 %
Shares of Appian stock opened at $40.78 on Friday. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The stock has a market capitalization of $2.95 billion, a P/E ratio of -27.37 and a beta of 1.57. The stock has a 50 day moving average price of $33.35 and a two-hundred day moving average price of $32.24.
Insider Transactions at Appian
In other news, major shareholder Abdiel Capital Advisors, Lp bought 1,486 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $32.98 per share, for a total transaction of $49,008.28. Following the purchase, the insider now owns 10,088,411 shares of the company’s stock, valued at $332,715,794.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders bought 819,276 shares of company stock worth $24,988,101. 44.00% of the stock is owned by insiders.
Institutional Trading of Appian
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price target on Appian from $47.00 to $41.00 and set a “buy” rating for the company 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. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. DA Davidson restated a “neutral” rating and set a $33.00 price target on shares of Appian in a research note on Monday, October 14th. Finally, Barclays raised their price target on shares of Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.20.
View Our Latest Report on Appian
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.
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