Appian (NASDAQ:APPN) Issues Q2 2024 Earnings Guidance

Appian (NASDAQ:APPN - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -0.340--0.280 for the period, compared to the consensus estimate of -0.290. The company issued revenue guidance of $140.0 million-$144.0 million, compared to the consensus revenue estimate of $145.3 million.

Wall Street Analysts Forecast Growth

APPN has been the topic of several analyst reports. KeyCorp dropped their target price on Appian from $50.00 to $37.00 and set an overweight rating on the stock in a report on Friday. William Blair reissued an outperform rating on shares of Appian in a report on Wednesday, March 20th. Barclays lowered their target price on shares of Appian from $36.00 to $32.00 and set an underweight rating on the stock in a report on Friday. DA Davidson cut their price target on shares of Appian from $55.00 to $52.00 and set a buy rating for the company in a research note on Monday, March 4th. Finally, Citigroup boosted their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $46.43.

Appian Stock Performance

Shares of APPN traded up $0.95 during trading hours on Friday, hitting $31.98. The company had a trading volume of 795,530 shares, compared to its average volume of 515,998. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -20.90 and a beta of 1.46. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. The business has a fifty day moving average of $36.71 and a 200-day moving average of $36.58. Appian has a 12 month low of $28.22 and a 12 month high of $54.26.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The firm had revenue of $145.32 million for the quarter, compared to analysts' expectations of $140.41 million. Equities analysts anticipate that Appian will post -0.9 EPS for the current fiscal year.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction dated Wednesday, February 21st. The shares were 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 owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.