Brokers Issue Forecasts for Appian Co.’s Q2 2024 Earnings (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Appian in a report released on Friday, May 3rd. DA Davidson analyst G. Luria expects that the company will post earnings per share of ($0.35) for the quarter. DA Davidson currently has a “Buy” rating and a $52.00 price objective on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.90) per share.

A number of other brokerages have also weighed in on APPN. Barclays decreased their target price on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday. Citigroup upped their price objective on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. KeyCorp dropped their target price on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Appian currently has an average rating of “Moderate Buy” and a consensus target price of $46.43.

Appian Stock Up 3.1 %

APPN opened at $31.98 on Monday. Appian has a twelve month low of $28.22 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. The firm has a 50 day moving average price of $36.71 and a 200-day moving average price of $36.41. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -21.75 and a beta of 1.46.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. The business had revenue of $145.32 million during the quarter, compared to analyst estimates of $140.41 million. Appian had a negative return on equity of 146.23% and a negative net margin of 19.20%.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now owns 5,890,304 shares of the company’s stock, valued at approximately $191,081,461.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 43.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APPN. Rhumbline Advisers raised its holdings in shares of Appian by 0.5% during the 3rd quarter. Rhumbline Advisers now owns 59,692 shares of the company’s stock worth $2,723,000 after acquiring an additional 299 shares in the last quarter. Arizona State Retirement System raised its stake in Appian by 4.6% during the fourth quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock valued at $351,000 after purchasing an additional 411 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Appian by 16.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock valued at $225,000 after purchasing an additional 695 shares in the last quarter. Victory Capital Management Inc. lifted its position in Appian by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after purchasing an additional 1,027 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Appian by 1.8% in the 3rd quarter. Swiss National Bank now owns 68,700 shares of the company’s stock worth $3,133,000 after buying an additional 1,200 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

About Appian

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.