Appian (NASDAQ:APPN) Releases Q2 2022 Earnings Guidance

Posted by on Jun 6th, 2022

Appian (NASDAQ:APPN – Get Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -$0.37–$0.33 for the period, compared to the consensus estimate of -$0.33. The company issued revenue guidance of $102.80 million-$104.80 million, compared to the consensus revenue estimate of $104.09 million.Appian also updated its FY 2022 guidance to -$0.82–$0.77 EPS.

Several equities analysts have commented on APPN shares. Zacks Investment Research cut Appian from a buy rating to a hold rating in a report on Monday, May 16th. Morgan Stanley reaffirmed a hold rating and issued a $60.00 price target on shares of Appian in a report on Friday, February 18th. The Goldman Sachs Group assumed coverage on Appian in a report on Wednesday, April 27th. They issued a buy rating and a $70.00 price target for the company. Barclays dropped their target price on Appian from $47.00 to $42.00 and set an underweight rating for the company in a report on Tuesday, April 19th. Finally, Truist Financial dropped their target price on Appian from $100.00 to $65.00 in a report on Friday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Appian presently has a consensus rating of Hold and an average price target of $75.83.

APPN opened at $49.16 on Monday. Appian has a fifty-two week low of $40.63 and a fifty-two week high of $149.82. The firm has a market capitalization of $3.56 billion, a PE ratio of -35.62 and a beta of 1.77. The company’s 50-day moving average is $52.46 and its 200 day moving average is $58.34.

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

In related news, major shareholder Abdiel Capital Management, Llc bought 250,000 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were purchased at an average price of $46.26 per share, with a total value of $11,565,000.00. Following the purchase, the insider now owns 6,600,034 shares of the company’s stock, valued at approximately $305,317,572.84. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Pavel Zamudio-Ramirez sold 2,165 shares of Appian stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $54.62, for a total transaction of $118,252.30. Following the sale, the insider now directly owns 8,225 shares in the company, valued at approximately $449,249.50. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 865,030 shares of company stock worth $41,120,351 and have sold 16,082 shares worth $908,684. Company insiders own 43.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC raised its holdings in Appian by 3.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,755 shares of the company’s stock worth $440,000 after buying an additional 229 shares during the last quarter. US Bancorp DE raised its holdings in Appian by 8.1% in the first quarter. US Bancorp DE now owns 5,838 shares of the company’s stock worth $355,000 after buying an additional 439 shares during the last quarter. NEXT Financial Group Inc raised its holdings in Appian by 21.6% in the fourth quarter. NEXT Financial Group Inc now owns 4,337 shares of the company’s stock worth $283,000 after buying an additional 770 shares during the last quarter. Quantbot Technologies LP purchased a new position in Appian in the first quarter worth about $278,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Appian in the first quarter worth about $265,000. 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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