Zacks: Brokerages Expect Appian Co. (NASDAQ:APPN) Will Post Earnings of -$0.35 Per Share

Equities research analysts expect Appian Co. (NASDAQ:APPNGet Rating) to post earnings per share (EPS) of ($0.35) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Appian’s earnings. Appian posted earnings of ($0.24) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 45.8%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Appian will report full-year earnings of ($0.80) per share for the current fiscal year, with EPS estimates ranging from ($0.81) to ($0.79). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.63) per share, with EPS estimates ranging from ($0.74) to ($0.47). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Appian.

Appian (NASDAQ:APPNGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. Appian had a negative return on equity of 28.38% and a negative net margin of 24.88%. The company had revenue of $114.27 million for the quarter, compared to analyst estimates of $107.19 million. During the same quarter last year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis.

A number of analysts recently commented on the company. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a report on Monday, May 16th. The Goldman Sachs Group assumed coverage on Appian in a research report on Wednesday, April 27th. They issued a “buy” rating and a $70.00 target price for the company. Morgan Stanley reissued a “hold” rating and issued a $60.00 target price on shares of Appian in a research report on Friday, February 18th. Truist Financial reduced their price target on Appian from $100.00 to $65.00 in a research report on Friday, February 18th. Finally, Barclays reduced their price target on Appian from $47.00 to $42.00 and set an “underweight” rating for the company in a research report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Appian currently has a consensus rating of “Hold” and a consensus target price of $76.43.

In other Appian news, insider Pavel Zamudio-Ramirez sold 2,165 shares of Appian stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $54.62, for a total transaction of $118,252.30. Following the completion of the sale, the insider now owns 8,225 shares of the company’s stock, valued at $449,249.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Abdiel Capital Management, Llc purchased 1,000 shares of the company’s stock in a transaction on Friday, March 18th. The shares were purchased at an average cost of $59.00 per share, with a total value of $59,000.00. The disclosure for this purchase can be found here. Over the last 90 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. 43.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Appian by 0.9% in 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 last quarter. Morgan Stanley raised its position in Appian by 125.9% during the 3rd quarter. Morgan Stanley now owns 1,346,009 shares of the company’s stock valued at $124,521,000 after purchasing an additional 750,090 shares during the last quarter. First Trust Advisors LP raised its position in Appian by 37.0% during the 4th quarter. First Trust Advisors LP now owns 1,139,190 shares of the company’s stock valued at $74,287,000 after purchasing an additional 307,570 shares during the last quarter. State Street Corp raised its position in Appian by 1.3% during the 1st quarter. State Street Corp now owns 812,640 shares of the company’s stock valued at $49,425,000 after purchasing an additional 10,727 shares during the last quarter. Finally, StackLine Partners LP raised its position in Appian by 86.2% during the 4th quarter. StackLine Partners LP now owns 470,083 shares of the company’s stock valued at $30,654,000 after purchasing an additional 217,648 shares during the last quarter. 80.47% of the stock is owned by institutional investors.

Shares of APPN stock traded down $0.47 during trading hours on Monday, reaching $47.68. The company had a trading volume of 453,972 shares, compared to its average volume of 637,965. Appian has a 12 month low of $42.18 and a 12 month high of $149.82. The business has a fifty day simple moving average of $54.79 and a 200-day simple moving average of $60.90. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -34.55 and a beta of 1.76.

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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