Appian Co. (NASDAQ:APPN) Expected to Post Q2 2024 Earnings of ($0.35) Per Share

Appian Co. (NASDAQ:APPN) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Appian in a report released on Friday, May 3rd. DA Davidson analyst G. Luria anticipates that the company will earn ($0.35) per share for the quarter. DA Davidson has a “Buy” rating and a $52.00 price target on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.90) per share.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). Appian had a negative return on equity of 146.23% and a negative net margin of 19.20%. The firm had revenue of $149.80 million for the quarter, compared to analysts’ expectations of $149.78 million. During the same quarter in the prior year, the company posted ($0.42) earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. William Blair reiterated an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Citigroup lifted their price target on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Barclays reduced their price target on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, May 3rd. Finally, KeyCorp dropped their target price on shares of Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.43.

Appian Stock Performance

NASDAQ:APPN opened at $31.83 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. Appian has a twelve month low of $28.22 and a twelve month high of $54.26. The stock has a market cap of $2.34 billion, a P/E ratio of -21.65 and a beta of 1.46. The firm’s fifty day simple moving average is $36.68 and its 200 day simple moving average is $36.28.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian 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 completion of the sale, the insider now directly owns 5,890,304 shares in the company, valued at $191,081,461.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 43.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its position in Appian by 16.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock valued at $225,000 after buying an additional 695 shares during the period. Bank of New York Mellon Corp grew its position in shares of Appian by 6.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 192,291 shares of the company’s stock valued at $8,770,000 after acquiring an additional 10,999 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Appian by 8.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 20,404 shares of the company’s stock worth $931,000 after purchasing an additional 1,562 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Appian by 18.6% in the 3rd quarter. New York State Common Retirement Fund now owns 22,286 shares of the company’s stock worth $1,016,000 after purchasing an additional 3,496 shares during the period. Finally, Quantbot Technologies LP lifted its position in Appian by 157.9% during the third quarter. Quantbot Technologies LP now owns 22,782 shares of the company’s stock valued at $1,039,000 after purchasing an additional 13,948 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Company Profile

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.