Appian (NASDAQ:APPN) Updates FY 2022 Earnings Guidance

Appian (NASDAQ:APPNGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of -$0.82–$0.77 for the period, compared to the consensus earnings per share estimate of -$0.80. The company issued revenue guidance of $453.00 million-$457.00 million, compared to the consensus revenue estimate of $455.63 million.Appian also updated its Q2 2022 guidance to -$0.37–$0.33 EPS.

Several research firms have weighed in on APPN. Truist Financial dropped their price target on Appian from $100.00 to $65.00 in a research note on Friday, February 18th. Barclays dropped their price target on Appian from $47.00 to $42.00 and set an underweight rating for the company in a research note on Tuesday, April 19th. Morgan Stanley restated a hold rating and issued a $60.00 price target on shares of Appian in a research note on Friday, February 18th. Zacks Investment Research cut Appian from a buy rating to a hold rating in a report on Monday, May 16th. Finally, The Goldman Sachs Group initiated coverage on Appian in a report on Wednesday, April 27th. They set a buy rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $76.43.

NASDAQ:APPN opened at $48.15 on Monday. The stock’s fifty day moving average is $54.81 and its 200 day moving average is $61.21. Appian has a fifty-two week low of $42.18 and a fifty-two week high of $149.82. The firm has a market capitalization of $3.48 billion, a PE ratio of -34.89 and a beta of 1.76.

Appian (NASDAQ:APPNGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.07. Appian had a negative return on equity of 28.38% and a negative net margin of 24.88%. The company had revenue of $114.27 million for the quarter, compared to analyst estimates of $107.19 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. Appian’s quarterly revenue was up 28.6% compared to the same quarter last year. As a group, analysts anticipate that Appian will post -1.04 earnings per share for the current fiscal year.

In other news, insider Pavel Zamudio-Ramirez sold 2,165 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $54.62, for a total transaction of $118,252.30. Following the transaction, the insider now owns 8,225 shares of the company’s stock, valued at approximately $449,249.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Management, Llc purchased 39,966 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were purchased at an average cost of $49.16 per share, for a total transaction of $1,964,728.56. Following the transaction, the insider now directly owns 7,940,000 shares in the company, valued at approximately $390,330,400. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 826,428 shares of company stock worth $40,549,885 and sold 16,082 shares worth $908,684. Company insiders own 43.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of APPN. BlackRock Inc. boosted its position in Appian by 0.9% during the fourth quarter. BlackRock Inc. now owns 2,936,074 shares of the company’s stock valued at $191,462,000 after purchasing an additional 27,200 shares in the last quarter. State Street Corp boosted its position in Appian by 1.3% during the first quarter. State Street Corp now owns 812,640 shares of the company’s stock valued at $49,425,000 after purchasing an additional 10,727 shares in the last quarter. Morgan Stanley boosted its position in Appian by 23.2% during the second quarter. Morgan Stanley now owns 595,919 shares of the company’s stock valued at $82,087,000 after purchasing an additional 112,399 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Appian by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 287,118 shares of the company’s stock valued at $17,463,000 after purchasing an additional 7,481 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Appian during the first quarter valued at about $13,983,000. 80.47% of the stock is currently owned by institutional investors and hedge funds.

About Appian (Get Rating)

Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

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