DA Davidson Research Analysts Increase Earnings Estimates for Appian Co. (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Investment analysts at DA Davidson upped their Q1 2024 earnings per share estimates for shares of Appian in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Luria now forecasts that the company will post earnings of ($0.18) per share for the quarter, up from their prior forecast of ($0.21). DA Davidson currently has a “Buy” rating and a $52.00 target price 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 announced 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. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The firm had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million.

Several other equities analysts also recently commented on APPN. Citigroup upped 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. KeyCorp upped 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. William Blair reissued an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Finally, Barclays boosted their target price on shares of Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Appian currently has a consensus rating of “Moderate Buy” and an average target price of $48.86.

Appian Price Performance

Appian stock opened at $34.86 on Friday. Appian has a 12 month low of $30.87 and a 12 month high of $54.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The business’s 50 day simple moving average is $36.42 and its 200 day simple moving average is $37.03. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -22.78 and a beta of 1.46.

Insider Buying and Selling at Appian

In other 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 transaction, the insider now owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APPN. Raymond James & Associates increased its holdings in shares of Appian by 15.2% in the first quarter. Raymond James & Associates now owns 3,816 shares of the company’s stock worth $232,000 after purchasing an additional 503 shares during the period. Bank of New York Mellon Corp increased its stake in Appian by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 166,769 shares of the company’s stock valued at $10,142,000 after acquiring an additional 501 shares during the last quarter. US Bancorp DE increased its stake in Appian by 8.1% in the first quarter. US Bancorp DE now owns 5,838 shares of the company’s stock valued at $355,000 after acquiring an additional 439 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Appian by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock valued at $153,000 after acquiring an additional 305 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Appian in the first quarter valued at $962,000. 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.