Appian (NASDAQ:APPN) Updates Q2 2022 Earnings Guidance

Appian (NASDAQ:APPNGet Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of -$0.37–$0.33 for the period, compared to the consensus earnings per share estimate of -$0.30. The company issued revenue guidance of $102.80 million-$104.80 million, compared to the consensus revenue estimate of $101.34 million.Appian also updated its FY 2022 guidance to -$0.82–$0.77 EPS.

A number of research firms recently commented on APPN. Morgan Stanley reiterated a hold rating and set a $60.00 price target on shares of Appian in a report on Friday, February 18th. Barclays lowered their price target on shares of Appian from $47.00 to $42.00 and set an underweight rating for the company in a report on Tuesday, April 19th. Zacks Investment Research lowered shares of Appian from a buy rating to a hold rating in a report on Tuesday, April 26th. Truist Financial reduced their price objective on shares of Appian from $100.00 to $65.00 in a research report on Friday, February 18th. Finally, The Goldman Sachs Group started coverage on shares of Appian in a research report on Wednesday, April 27th. They set a buy rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $78.14.

Appian stock traded down $2.54 during mid-day trading on Monday, reaching $44.98. 8,615 shares of the company traded hands, compared to its average volume of 540,892. The firm’s 50 day moving average price is $55.61 and its 200 day moving average price is $64.48. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -34.43 and a beta of 1.76. Appian has a 52-week low of $42.18 and a 52-week high of $149.82.

Appian (NASDAQ:APPNGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. The firm had revenue of $114.27 million for the quarter, compared to the consensus estimate of $107.19 million. Appian had a negative net margin of 24.88% and a negative return on equity of 28.02%. The company’s revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) EPS. As a group, analysts anticipate that Appian will post -1.02 EPS for the current fiscal year.

In other news, major shareholder Abdiel Capital Management, Llc purchased 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were bought at an average price of $52.09 per share, for a total transaction of $4,688,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders purchased 428,000 shares of company stock worth $21,823,990. 43.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in APPN. Morgan Stanley boosted its stake in Appian by 23.2% in the 2nd quarter. Morgan Stanley now owns 595,919 shares of the company’s stock worth $82,087,000 after purchasing an additional 112,399 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Appian by 82.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 198,304 shares of the company’s stock worth $12,932,000 after purchasing an additional 89,819 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Appian during the 4th quarter valued at about $3,925,000. Barclays PLC lifted its stake in Appian by 80.4% during the 4th quarter. Barclays PLC now owns 109,921 shares of the company’s stock valued at $7,167,000 after acquiring an additional 48,983 shares during the period. Finally, BlackRock Inc. lifted its stake in Appian by 0.9% during the 4th quarter. BlackRock Inc. now owns 2,936,074 shares of the company’s stock valued at $191,462,000 after acquiring an additional 27,200 shares during the period. Institutional investors own 80.47% of the company’s stock.

Appian Company Profile (Get Rating)

Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

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