Q1 2024 Earnings Estimate for Appian Co. Issued By DA Davidson (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Research analysts at DA Davidson lifted their Q1 2024 EPS estimates for shares of Appian in a research note issued on Wednesday, April 17th. DA Davidson analyst G. Luria now expects that the company will post earnings of ($0.18) per share for the quarter, up from their prior estimate of ($0.21). DA Davidson currently has a “Buy” rating and a $52.00 price target on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. DA Davidson also issued estimates for Appian’s FY2024 earnings at ($0.90) EPS and FY2025 earnings at ($0.39) EPS.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The company had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million.

APPN has been the topic of a number of other reports. Citigroup lifted their price target on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. KeyCorp lifted their price target on shares of Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 16th. William Blair reiterated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Finally, Barclays lifted their price target on shares of Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Appian has a consensus rating of “Moderate Buy” and an average target price of $48.86.

Appian Stock Down 1.5 %

APPN opened at $34.86 on Friday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. Appian has a fifty-two week low of $30.87 and a fifty-two week high of $54.26. The firm’s fifty day moving average is $36.42 and its 200 day moving average is $37.03. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -22.78 and a beta of 1.46.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 43.60% of the company’s stock.

Institutional Investors Weigh In On Appian

Several large investors have recently added to or reduced their stakes in APPN. Quarry LP purchased a new stake in Appian in the 1st quarter valued at about $27,000. Headlands Technologies LLC purchased a new stake in Appian in the 4th quarter valued at about $47,000. Captrust Financial Advisors boosted its position in Appian by 44.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after buying an additional 404 shares during the period. FMR LLC boosted its position in Appian by 40.5% in the 3rd quarter. FMR LLC now owns 1,824 shares of the company’s stock valued at $83,000 after buying an additional 526 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Appian by 144.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock valued at $86,000 after buying an additional 1,065 shares during the period. 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.