Appian Corp (NASDAQ:APPN) Expected to Announce Quarterly Sales of $63.25 Million

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

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

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.16) EPS for the quarter, hitting the Zacks’ 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 analyst estimates of $59.71 million. During the same period last year, the company posted ($0.12) EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year.

Several brokerages have recently issued reports on APPN. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Canaccord Genuity lifted 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 lifted their price target on Appian to $32.00 and gave the company a “hold” rating in a report on Monday, February 25th. BidaskClub upgraded 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 lifted their price target for the company from $30.00 to $36.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.59.

Shares of Appian stock traded down $1.07 during trading on Friday, hitting $31.20. 27,918 shares of the stock traded hands, compared to its average volume of 400,716. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -39.00 and a beta of 1.60. Appian has a twelve month low of $22.61 and a twelve month high of $43.61.

In related news, Director Albert G.W. Biddle III sold 43,994 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.03, for a total value of $1,585,103.82. Following the completion of the sale, the director now directly owns 6,088 shares in the company, valued at approximately $219,350.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Steven Lynch sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $34.14, for a total value of $512,100.00. Following the completion of the sale, the chief financial officer now owns 16,950 shares of the company’s stock, valued at $578,673. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,271 shares of company stock valued at $3,076,165. Corporate insiders own 50.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of APPN. Baillie Gifford & Co. acquired a new stake in Appian in the 1st quarter worth approximately $27,245,000. Renaissance Technologies LLC acquired a new stake in Appian in the 1st quarter worth approximately $8,129,000. Morgan Stanley lifted its holdings in Appian by 165.4% in the 1st quarter. Morgan Stanley now owns 353,034 shares of the company’s stock worth $12,154,000 after purchasing an additional 220,030 shares during the last quarter. Engle Capital Management L.P. increased its position in Appian by 50.0% in the 4th quarter. Engle Capital Management L.P. now owns 300,000 shares of the company’s stock worth $8,013,000 after buying an additional 100,000 shares during the period. Finally, Marshall Wace LLP bought a new position in Appian in the 1st quarter worth approximately $2,921,000. Hedge funds and other institutional investors own 28.71% of the company’s stock.

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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