Q1 2024 Earnings Estimate for Appian Co. Issued By DA Davidson (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Investment analysts at DA Davidson lifted their Q1 2024 earnings per share estimates for shares of Appian in a report issued on Wednesday, April 17th. DA Davidson analyst G. Luria now forecasts that the company will post earnings of ($0.18) per share for the quarter, up from their prior estimate of ($0.21). DA Davidson has a “Buy” rating and a $52.00 price objective on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. DA Davidson also issued estimates for Appian’s FY2024 earnings at ($0.90) EPS and FY2025 earnings at ($0.39) EPS.

Other equities analysts have also recently issued reports about the stock. KeyCorp increased their price target on shares of Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 16th. William Blair restated an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Citigroup lifted their price target on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Finally, Barclays upped their price target on Appian from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Appian has a consensus rating of “Moderate Buy” and an average price target of $48.86.

Appian Price Performance

Appian stock opened at $34.55 on Friday. The company has a market cap of $2.54 billion, a P/E ratio of -22.58 and a beta of 1.46. Appian has a one year low of $30.87 and a one year high of $54.26. The business has a fifty day moving average of $36.45 and a two-hundred day moving average of $36.96. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.33. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The business had revenue of $145.32 million during the quarter, compared to analysts’ expectations of $140.41 million.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 5,890,304 shares in the company, valued at $191,081,461.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Appian

A number of institutional investors and hedge funds have recently bought and sold shares of APPN. Quarry LP purchased a new position in Appian during the first quarter worth $27,000. Headlands Technologies LLC acquired a new stake in shares of Appian during the fourth quarter valued at $47,000. Captrust Financial Advisors increased its position in Appian by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after purchasing an additional 404 shares in the last quarter. FMR LLC increased its position in Appian by 40.5% during the 3rd quarter. FMR LLC now owns 1,824 shares of the company’s stock worth $83,000 after purchasing an additional 526 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Appian by 144.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock valued at $86,000 after purchasing an additional 1,065 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

About Appian

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.