Appian Corp (APPN) Expected to Announce Earnings of -$0.18 Per Share

Brokerages expect that Appian Corp (NASDAQ:APPN) will report ($0.18) earnings per share for the current quarter, Zacks reports. Three analysts have provided estimates for Appian’s earnings, with the lowest EPS estimate coming in at ($0.18) and the highest estimate coming in at ($0.17). Appian reported earnings per share of ($0.08) during the same quarter last year, which would indicate a negative year-over-year growth rate of 125%. The firm is expected to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Appian will report full-year earnings of ($0.61) per share for the current year, with EPS estimates ranging from ($0.62) to ($0.61). For the next fiscal year, analysts forecast that the company will report earnings of ($0.47) per share, with EPS estimates ranging from ($0.52) to ($0.43). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Appian.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, August 2nd. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $59.88 million during the quarter, compared to the consensus estimate of $50.31 million. Appian had a negative return on equity of 81.10% and a negative net margin of 16.28%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.08) earnings per share.

Several analysts have recently commented on the company. Zacks Investment Research downgraded Appian from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded Appian from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays increased their price objective on Appian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Friday, September 7th. Canaccord Genuity increased their price objective on Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, August 3rd. Finally, Morgan Stanley increased their price objective on Appian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.29.

Shares of Appian stock traded down $0.10 on Friday, hitting $28.46. The company had a trading volume of 407,766 shares, compared to its average volume of 504,410. The company has a market cap of $2.10 billion, a PE ratio of -46.66 and a beta of 0.58. Appian has a 1 year low of $19.62 and a 1 year high of $43.61.

In other Appian news, major shareholder Qualified Master Fund L. Abdiel purchased 375,824 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The stock was bought at an average cost of $28.39 per share, with a total value of $10,669,643.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Abdiel Capital Management, Llc purchased 80,883 shares of the firm’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were acquired at an average cost of $28.64 per share, with a total value of $2,316,489.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 668,137 shares of company stock valued at $19,411,490 and have sold 288,500 shares valued at $9,788,485. Company insiders own 64.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of APPN. Frontier Capital Management Co. LLC purchased a new stake in shares of Appian during the second quarter valued at approximately $10,308,000. Oakcliff Capital Partners LP purchased a new stake in shares of Appian during the second quarter valued at approximately $8,434,000. Cortina Asset Management LLC purchased a new stake in shares of Appian during the first quarter valued at approximately $2,678,000. Lord Abbett & CO. LLC increased its position in shares of Appian by 5.8% during the first quarter. Lord Abbett & CO. LLC now owns 812,243 shares of the company’s stock valued at $20,452,000 after acquiring an additional 44,842 shares during the last quarter. Finally, Nepsis Inc. increased its position in shares of Appian by 29.6% during the second quarter. Nepsis Inc. now owns 184,101 shares of the company’s stock valued at $6,657,000 after acquiring an additional 41,999 shares during the last quarter. 16.75% of the stock is owned by institutional investors.

Appian Company Profile

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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