Equities analysts expect Appian Corp (NASDAQ:APPN) to report sales of $63.25 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Appian’s earnings, with the highest sales estimate coming in at $63.50 million and the lowest estimate coming in at $62.80 million. Appian reported sales of $59.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The company is expected to report its next earnings results on Thursday, August 1st.

On average, analysts expect that Appian will report full year sales of $256.46 million for the current fiscal year, with estimates ranging from $255.60 million to $257.00 million. For the next fiscal year, analysts forecast that the company will post sales of $299.78 million, with estimates ranging from $296.73 million to $304.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Appian.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. The firm had revenue of $59.58 million during the quarter, compared to analysts’ expectations of $59.71 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis.

Several research firms recently commented on APPN. Zacks Investment Research cut Appian from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Canaccord Genuity increased their price target on Appian from $27.00 to $33.00 and gave the company a “hold” rating in a report on Friday, February 22nd. SunTrust Banks increased their price target on Appian to $32.00 and gave the company a “hold” rating in a report on Monday, February 25th. BidaskClub raised Appian from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. Finally, Morgan Stanley upgraded Appian from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $30.00 to $36.00 in a research report on Thursday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Appian presently has a consensus rating of “Hold” and a consensus target price of $33.59.

In other news, Director Michael J. Mulligan sold 30,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $36.46, for a total transaction of $1,093,800.00. Following the completion of the transaction, the director now directly owns 62,029 shares in the company, valued at $2,261,577.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Albert G.W. Biddle III sold 19,006 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $35.98, for a total value of $683,835.88. Following the transaction, the director now owns 6,088 shares of the company’s stock, valued at $219,046.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,224 shares of company stock valued at $3,971,764. Company insiders own 50.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in shares of Appian by 50.0% during the first quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock worth $30,000 after buying an additional 300 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of Appian during the fourth quarter worth $38,000. IFP Advisors Inc boosted its position in shares of Appian by 29.6% during the fourth quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock worth $40,000 after buying an additional 331 shares during the period. Advisor Group Inc. boosted its position in shares of Appian by 12.2% during the fourth quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock worth $74,000 after buying an additional 300 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Appian during the first quarter worth $85,000. Institutional investors and hedge funds own 27.34% of the company’s stock.

Shares of NASDAQ:APPN traded down $0.88 during midday trading on Thursday, hitting $33.98. The company had a trading volume of 440,058 shares, compared to its average volume of 478,066. Appian has a twelve month low of $22.61 and a twelve month high of $43.61. The stock has a market cap of $2.20 billion, a PE ratio of -42.48 and a beta of 1.79.

Appian Company Profile

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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