Appian Corp (APPN) Expected to Announce Quarterly Sales of $55.67 Million

Equities research analysts expect that Appian Corp (NASDAQ:APPN) will announce $55.67 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Appian’s earnings, with the lowest sales estimate coming in at $55.60 million and the highest estimate coming in at $55.72 million. Appian reported sales of $50.56 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The firm is expected to announce its next earnings results after the market closes on Thursday, February 21st.

According to Zacks, analysts expect that Appian will report full-year sales of $222.18 million for the current financial year, with estimates ranging from $222.06 million to $222.30 million. For the next fiscal year, analysts anticipate that the firm will report sales of $255.11 million, with estimates ranging from $250.90 million to $259.19 million. Zacks’ sales averages are an average based on a survey of research firms that cover Appian.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, February 21st. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The company had revenue of $60.22 million for the quarter, compared to analyst estimates of $55.74 million. During the same period in the prior year, the firm posted ($0.08) EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis.

A number of equities research analysts have recently commented on APPN shares. BidaskClub raised shares of Appian from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Goldman Sachs Group started coverage on shares of Appian in a research note on Friday, February 1st. They issued a “sell” rating and a $26.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $29.17.

In related news, Director Michael G. Devine sold 5,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $38.54, for a total transaction of $192,700.00. Following the transaction, the director now owns 11,380 shares in the company, valued at approximately $438,585.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel bought 200,000 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The shares were bought at an average price of $26.40 per share, for a total transaction of $5,280,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 630,737 shares of company stock worth $16,123,572 and have sold 42,757 shares worth $1,436,445. 64.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in APPN. Advisor Group Inc. raised its holdings in Appian by 12.2% during the fourth quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock worth $74,000 after buying an additional 300 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Appian by 29.6% in the 4th quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock worth $40,000 after acquiring an additional 331 shares in the last quarter. Roundview Capital LLC grew its stake in shares of Appian by 1.5% in the 4th quarter. Roundview Capital LLC now owns 80,642 shares of the company’s stock worth $2,154,000 after acquiring an additional 1,183 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Appian by 6.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,507 shares of the company’s stock worth $574,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Appian in the 4th quarter worth $38,000. Institutional investors own 23.71% of the company’s stock.

Shares of NASDAQ:APPN traded up $0.43 during trading on Thursday, reaching $38.75. The stock had a trading volume of 713,340 shares, compared to its average volume of 579,290. Appian has a 52 week low of $22.61 and a 52 week high of $43.61. The firm has a market cap of $2.44 billion, a P/E ratio of -63.52 and a beta of 1.85.

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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