Appian (NASDAQ:APPN) Issues FY 2024 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of -0.610–0.520 for the period, compared to the consensus EPS estimate of -0.550. The company issued revenue guidance of $610.0 million-$615.0 million, compared to the consensus revenue estimate of $611.8 million. Appian also updated its FY24 guidance to ($0.61)-($0.52) EPS.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays cut their price target on shares of Appian from $32.00 to $29.00 and set an underweight rating on the stock in a report on Monday, August 5th. KeyCorp lowered shares of Appian from an overweight rating to a sector weight rating in a report on Friday, August 2nd. The Goldman Sachs Group cut 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, August 2nd. DA Davidson lowered shares of Appian from a strong-buy rating to a hold rating in a report on Wednesday, July 31st. Finally, William Blair lowered shares of Appian from an outperform rating to a market perform rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Appian currently has a consensus rating of Hold and a consensus target price of $39.20.

Appian Price Performance

Shares of APPN opened at $31.31 on Monday. The firm has a market capitalization of $2.26 billion, a PE ratio of -21.30 and a beta of 1.57. Appian has a 1-year low of $26.28 and a 1-year high of $44.28. The company’s fifty day moving average price is $31.72 and its 200-day moving average price is $32.65.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. During the same period in the prior year, the company earned ($0.55) earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. As a group, research analysts anticipate that Appian will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 200,000 shares of the stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $35.29 per share, with a total value of $7,058,000.00. Following the completion of the acquisition, the insider now owns 7,345,647 shares in the company, valued at $259,227,882.63. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have acquired 1,761,776 shares of company stock valued at $57,130,976. 44.00% of the stock is owned by 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.