Brokerages expect Appian Corp (NASDAQ:APPN) to post $55.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Appian’s earnings, with the lowest sales estimate coming in at $55.60 million and the highest estimate coming in at $55.72 million. Appian reported sales of $50.56 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Appian will report full year sales of $222.18 million for the current year, with estimates ranging from $222.06 million to $222.30 million. For the next year, analysts anticipate that the business will post sales of $255.11 million, with estimates ranging from $250.90 million to $259.19 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Appian.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Appian had a negative return on equity of 85.70% and a negative net margin of 19.54%. The business had revenue of $54.95 million for the quarter, compared to analysts’ expectations of $49.73 million. During the same quarter in the prior year, the business earned ($0.08) EPS. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis.

APPN has been the topic of a number of research reports. BidaskClub raised Appian from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Barclays raised Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price objective on the stock in a report on Monday, October 15th. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Canaccord Genuity upped their price objective on Appian from $28.00 to $30.00 and gave the company a “hold” rating in a report on Friday, August 3rd. Finally, Morgan Stanley upped their price objective on Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.67.

NASDAQ APPN traded down $0.12 on Tuesday, reaching $25.40. The stock had a trading volume of 735,000 shares, compared to its average volume of 512,245. Appian has a 1-year low of $19.62 and a 1-year high of $43.61. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -41.64 and a beta of 1.81.

In other news, CEO Matthew W. Calkins sold 200,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $34.78, for a total transaction of $6,956,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Charles Kramer sold 25,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $34.78, for a total value of $869,500.00. Following the sale, the insider now directly owns 4,000 shares in the company, valued at $139,120. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 1,080,167 shares of company stock worth $28,442,017 and sold 307,645 shares worth $10,167,814. Corporate insiders own 64.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPN. Jupiter Asset Management Ltd. acquired a new stake in shares of Appian during the 3rd quarter worth $13,801,000. Frontier Capital Management Co. LLC acquired a new stake in shares of Appian during the 2nd quarter worth $10,308,000. Oakcliff Capital Partners LP acquired a new stake in shares of Appian during the 2nd quarter worth $8,434,000. BlackRock Inc. grew its holdings in shares of Appian by 101.7% during the 3rd quarter. BlackRock Inc. now owns 408,944 shares of the company’s stock worth $13,536,000 after purchasing an additional 206,211 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Appian by 94.7% during the 3rd quarter. Morgan Stanley now owns 246,706 shares of the company’s stock worth $8,166,000 after purchasing an additional 120,026 shares in the last quarter. 19.18% of the stock is currently owned by institutional investors.

About Appian

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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