Q1 2024 EPS Estimates for Appian Co. Lifted by Analyst (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – DA Davidson upped their Q1 2024 EPS estimates for Appian in a report issued on Wednesday, April 17th. DA Davidson analyst G. Luria now expects that the company will post earnings of ($0.18) per share for the quarter, up from their previous forecast of ($0.21). DA Davidson currently has a “Buy” rating and a $52.00 price target on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. DA Davidson also issued estimates for Appian’s FY2024 earnings at ($0.90) EPS and FY2025 earnings at ($0.39) EPS.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. The business had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%.

Several other analysts have also recently weighed in on APPN. Citigroup lifted their price target on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. William Blair reiterated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. KeyCorp lifted their price target on shares of Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Barclays lifted their price target on shares of Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Appian has a consensus rating of “Moderate Buy” and a consensus target price of $48.86.

Appian Stock Performance

NASDAQ:APPN opened at $34.55 on Friday. The stock has a market cap of $2.54 billion, a P/E ratio of -22.58 and a beta of 1.46. The firm’s fifty day simple moving average is $36.45 and its 200 day simple moving average is $36.92. Appian has a twelve month low of $30.87 and a twelve month high of $54.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the sale, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Appian

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new position in Appian in the 1st quarter worth about $27,000. Headlands Technologies LLC bought a new position in Appian in the 4th quarter worth about $47,000. Captrust Financial Advisors boosted its stake in Appian by 44.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after purchasing an additional 404 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Appian in the 1st quarter worth about $109,000. Finally, Tower Research Capital LLC TRC boosted its stake in Appian by 144.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock worth $86,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors own 52.70% of the company’s stock.

Appian Company Profile

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.