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 (EPS) guidance of -$0.82–$0.77 for the period, compared to the consensus 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 equities research analysts recently issued reports on APPN shares. Zacks Investment Research downgraded Appian from a buy rating to a hold rating in a report on Monday, May 16th. Barclays decreased their target price on Appian from $47.00 to $42.00 and set an underweight rating on the stock in a research note on Tuesday, April 19th. The Goldman Sachs Group began coverage on Appian in a research report on Wednesday, April 27th. They set a buy rating and a $70.00 price target on the stock. Truist Financial lowered their target price on Appian from $100.00 to $65.00 in a research note on Friday, February 18th. Finally, Morgan Stanley reiterated a hold rating and set a $60.00 price objective on shares of Appian in a research note on Friday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Appian currently has a consensus rating of Hold and an average target price of $75.83.

Shares of NASDAQ APPN opened at $49.16 on Monday. The business’s 50 day moving average is $52.46 and its two-hundred day moving average is $58.34. Appian has a 1-year low of $40.63 and a 1-year high of $149.82. The stock has a market capitalization of $3.56 billion, a P/E ratio of -35.62 and a beta of 1.77.

Appian (NASDAQ:APPNGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $114.27 million for the quarter, compared to analysts’ expectations of $107.19 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The company’s quarterly revenue was up 28.6% on a year-over-year basis. As a group, equities analysts predict that Appian will post -1.04 EPS for the current year.

In other Appian news, CFO Mark Matheos sold 4,981 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $57.13, for a total transaction of $284,564.53. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Abdiel Capital Management, Llc bought 40,000 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was acquired at an average cost of $55.70 per share, for a total transaction of $2,228,000.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 865,030 shares of company stock worth $41,120,351 and sold 16,082 shares worth $908,684. 43.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in shares of Appian by 0.6% in the fourth quarter. Legal & General Group Plc now owns 33,299 shares of the company’s stock worth $2,172,000 after buying an additional 191 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Appian by 3.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,755 shares of the company’s stock valued at $440,000 after acquiring an additional 229 shares during the period. PNC Financial Services Group Inc. increased its stake in Appian by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock worth $153,000 after purchasing an additional 305 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Appian by 8.1% in the 1st quarter. US Bancorp DE now owns 5,838 shares of the company’s stock valued at $355,000 after buying an additional 439 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Appian by 1.1% during the first quarter. Rhumbline Advisers now owns 42,444 shares of the company’s stock worth $2,581,000 after buying an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 80.47% of the company’s stock.

Appian Company Profile (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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