Analysts Expect Appian Corp (NASDAQ:APPN) to Announce -$0.17 Earnings Per Share

Brokerages expect Appian Corp (NASDAQ:APPN) to announce ($0.17) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Appian’s earnings, with the lowest EPS estimate coming in at ($0.18) and the highest estimate coming in at ($0.17). Appian reported earnings of ($0.14) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 21.4%. The business is expected to issue its next earnings results on Thursday, August 1st.

On average, analysts expect that Appian will report full year earnings of ($0.54) per share for the current financial year, with EPS estimates ranging from ($0.55) to ($0.53). For the next year, analysts anticipate that the firm will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.44) to ($0.34). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Appian.

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

APPN has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Appian from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 30th. Morgan Stanley raised shares of Appian from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $30.00 to $36.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. Barclays reissued a “hold” rating and set a $32.00 price target on shares of Appian in a report on Sunday, May 5th. William Blair raised shares of Appian from a “market perform” rating to an “outperform” rating and set a $35.10 price target on the stock in a report on Thursday, May 16th. Finally, Zacks Investment Research downgraded shares of Appian from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Appian currently has a consensus rating of “Hold” and a consensus target price of $33.59.

In other Appian news, CFO Mark Steven Lynch sold 15,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $34.14, for a total transaction of $512,100.00. Following the transaction, the chief financial officer now directly owns 16,950 shares of the company’s stock, valued at $578,673. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael G. Devine sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $36.03, for a total transaction of $180,150.00. Following the transaction, the director now directly owns 11,960 shares in the company, valued at $430,918.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,000 shares of company stock worth $2,961,190. Insiders own 50.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of APPN. Baillie Gifford & Co. acquired a new stake in shares of Appian in the first quarter valued at about $27,245,000. Engle Capital Management L.P. boosted its position in Appian by 50.0% during the 4th quarter. Engle Capital Management L.P. now owns 300,000 shares of the company’s stock worth $8,013,000 after acquiring an additional 100,000 shares during the period. Marshall Wace LLP acquired a new stake in Appian during the 1st quarter worth about $2,921,000. BlackRock Inc. boosted its position in Appian by 18.3% during the 4th quarter. BlackRock Inc. now owns 483,748 shares of the company’s stock worth $12,921,000 after acquiring an additional 74,804 shares during the period. Finally, Oakcliff Capital Partners LP raised its stake in shares of Appian by 21.4% during the 4th quarter. Oakcliff Capital Partners LP now owns 283,264 shares of the company’s stock worth $7,566,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 28.68% of the company’s stock.

Shares of NASDAQ APPN opened at $36.07 on Friday. The business’s fifty day moving average price is $34.86. Appian has a 1 year low of $22.61 and a 1 year high of $39.92. The stock has a market capitalization of $2.33 billion, a P/E ratio of -45.09 and a beta of 1.61.

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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