Appian (NASDAQ:APPN) Releases FY24 Earnings Guidance

Appian (NASDAQ:APPN - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.85)-($0.79) for the period, compared to the consensus earnings per share 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 Down 15.5 %

Shares of APPN stock traded down $5.70 during midday trading on Thursday, reaching $31.03. 2,287,252 shares of the stock were exchanged, compared to its average volume of 512,696. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The firm has a market cap of $2.28 billion, a PE ratio of -19.82 and a beta of 1.46. The company's 50 day moving average is $36.75 and its two-hundred day moving average is $36.61. Appian has a 1 year low of $28.22 and a 1 year high of $54.26.

Appian (NASDAQ:APPN - Get Free Report) 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. The business had revenue of $145.32 million for the quarter, compared to analysts' expectations of $140.41 million. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. On average, equities research analysts predict that Appian will post -0.9 EPS for the current year.

Analyst Upgrades and Downgrades

APPN has been the subject of a number of analyst reports. Citigroup increased their price target on Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research note on Friday, March 22nd. KeyCorp increased their price target on shares of Appian from $45.00 to $50.00 and gave the company an overweight rating in a report on Friday, February 16th. William Blair reaffirmed an outperform rating on shares of Appian in a report on Wednesday, March 20th. DA Davidson lowered their price target on shares of Appian from $55.00 to $52.00 and set a buy rating for the company in a report on Monday, March 4th. Finally, Barclays increased their price target on shares of Appian from $35.00 to $36.00 and gave the company an underweight rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $48.86.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the sale, the insider now owns 5,890,304 shares of the company's stock, valued at $191,081,461.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 43.60% of the company's stock.

About Appian

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.