Appian (NASDAQ:APPN) Updates FY 2022 Earnings Guidance

Appian (NASDAQ:APPNGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of -$0.82–$0.77 for the period, compared to the consensus earnings per share estimate of -$0.80. The company issued revenue guidance of $453.00 million-$457.00 million, compared to the consensus revenue estimate of $455.63 million.Appian also updated its Q2 2022 guidance to -$0.37–$0.33 EPS.

NASDAQ:APPN opened at $48.15 on Monday. The stock has a 50-day simple moving average of $54.81 and a 200-day simple moving average of $61.21. The stock has a market cap of $3.48 billion, a P/E ratio of -34.89 and a beta of 1.76. Appian has a 1 year low of $42.18 and a 1 year high of $149.82.

Appian (NASDAQ:APPNGet Rating) last released its quarterly earnings data 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. The business had revenue of $114.27 million during the quarter, compared to analysts’ expectations of $107.19 million. Appian had a negative return on equity of 28.38% and a negative net margin of 24.88%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, research analysts forecast that Appian will post -1.04 EPS for the current fiscal year.

A number of research firms have weighed in on APPN. The Goldman Sachs Group initiated coverage on Appian in a research report on Wednesday, April 27th. They set a buy rating and a $70.00 price objective for the company. Barclays reduced their price target on 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 cut Appian from a buy rating to a hold rating in a report on Monday, May 16th. Morgan Stanley reissued a hold rating and issued a $60.00 price target on shares of Appian in a report on Friday, February 18th. Finally, Truist Financial reduced their price target on Appian from $100.00 to $65.00 in a report on Friday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $76.43.

In related news, CFO Mark Matheos sold 4,981 shares of Appian stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $57.13, for a total transaction of $284,564.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Abdiel Capital Management, Llc purchased 90,000 shares of the business’s stock in a transaction dated Wednesday, February 23rd. The stock was bought at an average cost of $52.09 per share, with a total value of $4,688,100.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 826,428 shares of company stock valued at $40,549,885 and have sold 16,082 shares valued at $908,684. Insiders own 43.90% of the company’s stock.

Several large investors have recently made changes to their positions in APPN. Penserra Capital Management LLC grew its position in Appian by 60.3% during the fourth quarter. Penserra Capital Management LLC now owns 1,212 shares of the company’s stock valued at $79,000 after acquiring an additional 456 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Appian during the first quarter valued at about $109,000. PNC Financial Services Group Inc. grew its position in Appian by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock valued at $153,000 after acquiring an additional 305 shares during the period. Federated Hermes Inc. purchased a new stake in Appian during the first quarter valued at about $199,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Appian during the first quarter valued at about $230,000. 80.47% of the stock is owned by institutional investors and hedge funds.

About Appian (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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