Appian Co. (NASDAQ:APPN) to Post Q1 2024 Earnings of ($0.18) Per Share, DA Davidson Forecasts

Appian Co. (NASDAQ:APPN - Free Report) - Research analysts at DA Davidson upped their Q1 2024 earnings per share estimates for Appian in a research note issued on Wednesday, April 17th. DA Davidson analyst G. Luria now anticipates that the company will earn ($0.18) per share for the quarter, up from their prior estimate 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.

Several other equities research analysts have also recently commented on APPN. Citigroup increased their price objective on Appian from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, March 22nd. Barclays raised their price objective on Appian from $35.00 to $36.00 and gave the stock an "underweight" rating in a research note on Monday. KeyCorp raised their price objective on Appian from $45.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, February 16th. Finally, William Blair reissued an "outperform" rating on shares of Appian in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.86.

Appian Stock Down 0.9 %

Shares of NASDAQ APPN traded down $0.31 during trading on Friday, reaching $34.55. The company had a trading volume of 496,218 shares, compared to its average volume of 498,687. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. Appian has a 12-month low of $30.87 and a 12-month high of $54.26. The stock has a market cap of $2.54 billion, a PE ratio of -22.58 and a beta of 1.46. The business's 50-day moving average is $36.45 and its 200 day moving average is $36.96.

Appian (NASDAQ:APPN - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported ($0.07) EPS 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 analysts' expectations of $140.41 million.

Institutional Investors Weigh In On Appian

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Appian by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company's stock worth $176,602,000 after acquiring an additional 132,827 shares during the last quarter. BlackRock Inc. raised its position in Appian by 7.7% during the 2nd quarter. BlackRock Inc. now owns 2,933,839 shares of the company's stock valued at $139,651,000 after purchasing an additional 208,857 shares in the last quarter. Hawk Ridge Capital Management LP raised its position in Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company's stock valued at $70,043,000 after purchasing an additional 236,230 shares in the last quarter. First Trust Advisors LP raised its position in Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company's stock valued at $49,812,000 after purchasing an additional 317,411 shares in the last quarter. Finally, State Street Corp raised its position in Appian by 2.5% during the 2nd quarter. State Street Corp now owns 873,935 shares of the company's stock valued at $41,599,000 after purchasing an additional 21,046 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction that occurred on 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 transaction, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 43.60% 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.