Appian (NASDAQ:APPN) Issues FY24 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of ($0.85)-($0.79) for the period, compared to the consensus EPS estimate of ($0.68). The company issued revenue guidance of $615-617 million, compared to the consensus revenue estimate of $615.63 million. Appian also updated its Q2 guidance to ($0.34)-($0.28) EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson decreased their price objective on Appian from $55.00 to $52.00 and set a buy rating for the company in a report on Monday, March 4th. Barclays lowered their price target on shares of Appian from $36.00 to $32.00 and set an underweight rating on the stock in a report on Friday. William Blair reaffirmed an outperform rating on shares of Appian in a report on Wednesday, March 20th. Citigroup raised their price target on shares of Appian from $48.00 to $52.00 and gave the company a neutral rating in a report on Friday, March 22nd. Finally, KeyCorp decreased their price target on shares of Appian from $50.00 to $37.00 and set an overweight rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Appian presently has a consensus rating of Moderate Buy and an average price target of $46.43.

Appian Stock Performance

Shares of Appian stock traded up $0.95 on Friday, hitting $31.98. 795,544 shares of the company traded hands, compared to its average volume of 577,887. Appian has a 12-month low of $28.22 and a 12-month high of $54.26. The firm’s 50-day simple moving average is $36.71 and its 200 day simple moving average is $36.45. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative return on equity of 146.23% and a negative net margin of 19.20%. The business had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million. On average, analysts expect that Appian will post -0.9 EPS for the current year.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’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 sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. 43.60% of the stock is currently owned by corporate insiders.

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.