Appian (NASDAQ:APPN) Issues FY24 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($0.85)-($0.79) for the period, compared to the consensus 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.

Appian Stock Performance

Shares of APPN traded up $0.95 during mid-day trading on Friday, hitting $31.98. 795,544 shares of the company’s stock were exchanged, compared to its average volume of 577,887. The company has a 50-day simple moving average of $36.71 and a 200 day simple moving average of $36.45. Appian has a 52 week low of $28.22 and a 52 week high of $54.26. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $145.32 million for the quarter, compared to analyst estimates of $140.41 million. On average, equities research analysts anticipate that Appian will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

APPN has been the subject of a number of research reports. William Blair reissued an outperform rating on shares of Appian in a report on Wednesday, March 20th. Citigroup increased their target price on shares of Appian from $48.00 to $52.00 and gave the stock a neutral rating in a report on Friday, March 22nd. DA Davidson lowered their target price on Appian from $55.00 to $52.00 and set a buy rating for the company in a report on Monday, March 4th. Barclays reduced their price target on Appian from $36.00 to $32.00 and set an underweight rating on the stock in a report on Friday. Finally, KeyCorp dropped their price objective on shares of Appian from $50.00 to $37.00 and set an overweight rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $46.43.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was 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 approximately $191,081,461.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.