Research Analysts Set Expectations for Appian Co.’s Q1 2024 Earnings (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Analysts at William Blair boosted their Q1 2024 earnings per share (EPS) estimates for shares of Appian in a research note issued to investors on Wednesday, April 17th. William Blair analyst J. Roberge now expects that the company will post earnings per share of ($0.17) for the quarter, up from their prior forecast of ($0.25). William Blair has a “Outperform” rating on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. William Blair also issued estimates for Appian’s Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.15) EPS and FY2024 earnings at ($0.89) EPS.

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

Several other equities analysts have also recently issued reports on APPN. Citigroup lifted their price objective on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Barclays lifted their price objective on Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, April 15th. DA Davidson decreased their price objective on Appian from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Finally, KeyCorp lifted their price objective on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.86.

Appian Stock Performance

Shares of Appian stock opened at $34.55 on Friday. The business has a 50-day moving average of $36.45 and a 200 day moving average of $36.92. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -22.58 and a beta of 1.46. Appian has a 12 month low of $30.87 and a 12 month high of $54.26.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Appian by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock worth $176,602,000 after buying an additional 132,827 shares during the period. BlackRock Inc. increased its position in Appian by 7.7% during the second quarter. BlackRock Inc. now owns 2,933,839 shares of the company’s stock worth $139,651,000 after buying an additional 208,857 shares during the period. Hawk Ridge Capital Management LP increased its position in Appian by 14.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after buying an additional 236,230 shares during the period. First Trust Advisors LP increased its position in Appian by 31.6% during the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after buying an additional 317,411 shares during the period. Finally, State Street Corp increased its position in Appian by 2.5% during the second quarter. State Street Corp now owns 873,935 shares of the company’s stock worth $41,599,000 after buying an additional 21,046 shares during the period. Institutional investors and hedge funds 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.