Appian (NASDAQ:APPN) Announces Earnings Results

Appian (NASDAQ:APPN) announced its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05, Briefing.com reports. The company had revenue of $146.50 million for the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 234.57%. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.55) EPS.

Appian Price Performance

APPN stock opened at $29.84 on Friday. Appian has a 12 month low of $26.28 and a 12 month high of $52.99. The company has a 50-day moving average price of $31.20 and a 200 day moving average price of $33.72. The stock has a market cap of $2.16 billion, a PE ratio of -20.30 and a beta of 1.47. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68.

Analyst Upgrades and Downgrades

APPN has been the topic of a number of research reports. The Goldman Sachs Group reduced their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday. Barclays reduced their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, DA Davidson cut shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.00.

Insider Activity at Appian

In related news, Director Albert G.W. Biddle III acquired 3,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the acquisition, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Albert G.W. Biddle III acquired 3,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the acquisition, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp purchased 60,722 shares of Appian stock in a transaction dated Monday, July 8th. The stock was acquired at an average price of $31.34 per share, with a total value of $1,903,027.48. Following the acquisition, the insider now owns 6,426,026 shares in the company, valued at approximately $201,391,654.84. The disclosure for this purchase can be found here. Insiders purchased 1,381,568 shares of company stock worth $46,783,802 in the last 90 days. 44.00% of the stock is owned by corporate insiders.

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.