Appian (NASDAQ:APPN) Issues FY 2022 Earnings Guidance

Appian (NASDAQ:APPNGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of -$0.82–$0.77 for the period, compared to the consensus EPS estimate of -$0.81. The company issued revenue guidance of $453.00 million-$457.00 million, compared to the consensus revenue estimate of $445.29 million.Appian also updated its Q2 2022 guidance to -$0.37–$0.33 EPS.

NASDAQ:APPN traded up $1.53 during mid-day trading on Monday, hitting $58.30. The company’s stock had a trading volume of 2,597 shares, compared to its average volume of 629,700. Appian has a 1 year low of $42.18 and a 1 year high of $149.82. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -41.14 and a beta of 1.76. The business’s fifty day moving average is $55.14 and its two-hundred day moving average is $62.93.

Appian (NASDAQ:APPNGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.07. Appian had a negative net margin of 24.88% and a negative return on equity of 28.02%. The business had revenue of $114.27 million for the quarter, compared to analyst estimates of $107.19 million. During the same period in the prior year, the company posted ($0.17) EPS. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, equities research analysts predict that Appian will post -1 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Appian from a hold rating to a buy rating and set a $48.00 target price on the stock in a research note on Wednesday, May 11th. Truist Financial lowered their target price on shares of Appian from $100.00 to $65.00 in a research note on Friday, February 18th. Barclays lowered their target price on shares of Appian from $47.00 to $42.00 and set an underweight rating on the stock in a research note on Tuesday, April 19th. Morgan Stanley restated a hold rating and set a $60.00 price target on shares of Appian in a research report on Friday, February 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Appian in a research report on Wednesday, April 27th. They set a buy rating and a $70.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Appian presently has an average rating of Hold and an average price target of $76.43.

In other Appian news, CRO Eric Calvin Cross sold 8,936 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $56.61, for a total value of $505,866.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Abdiel Capital Management, Llc purchased 40,000 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was acquired at an average cost of $52.67 per share, with a total value of $2,106,800.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 736,462 shares of company stock valued at $36,001,657 and have sold 16,082 shares valued at $908,684. Company insiders own 43.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in APPN. Morgan Stanley raised its holdings in shares of Appian by 23.2% in the 2nd quarter. Morgan Stanley now owns 595,919 shares of the company’s stock valued at $82,087,000 after purchasing an additional 112,399 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Appian by 6.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 156,432 shares of the company’s stock valued at $14,472,000 after purchasing an additional 8,925 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Appian by 3.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,755 shares of the company’s stock valued at $440,000 after purchasing an additional 229 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Appian by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 45,012 shares of the company’s stock valued at $2,934,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Appian by 80.4% in the 4th quarter. Barclays PLC now owns 109,921 shares of the company’s stock valued at $7,167,000 after purchasing an additional 48,983 shares in the last quarter. Institutional investors and hedge funds 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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