Wall Street brokerages expect that Appian Corp (NASDAQ:APPN) will post sales of $63.25 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Appian’s earnings, with estimates ranging from $62.80 million to $63.50 million. Appian posted sales of $59.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The company is expected to announce its next earnings results on Thursday, August 1st.
On average, analysts expect that Appian will report full-year sales of $256.46 million for the current financial year, with estimates ranging from $255.60 million to $257.00 million. For the next year, analysts anticipate that the company will report sales of $299.78 million, with estimates ranging from $296.73 million to $304.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Appian.
Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $59.58 million for the quarter, compared to the consensus estimate of $59.71 million. Appian had a negative net margin of 24.48% and a negative return on equity of 91.41%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) EPS.
A number of brokerages have recently issued reports on APPN. Morgan Stanley raised shares of Appian from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $30.00 to $36.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. William Blair raised shares of Appian from a “market perform” rating to an “outperform” rating and set a $35.10 price target on the stock in a report on Thursday, May 16th. Zacks Investment Research downgraded shares of Appian from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Barclays reaffirmed a “hold” rating and set a $32.00 price target on shares of Appian in a report on Sunday, May 5th. Finally, BidaskClub raised shares of Appian from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Appian currently has an average rating of “Hold” and a consensus target price of $33.59.
In other news, Director Michael G. Devine sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.03, for a total value of $180,150.00. Following the transaction, the director now owns 11,960 shares in the company, valued at approximately $430,918.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Steven Lynch sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $34.14, for a total transaction of $512,100.00. Following the completion of the transaction, the chief financial officer now owns 16,950 shares in the company, valued at approximately $578,673. The disclosure for this sale can be found here. Insiders sold a total of 83,000 shares of company stock worth $2,961,190 in the last quarter. Company insiders own 50.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Lindbrook Capital LLC raised its stake in Appian by 50.0% during the 1st quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock worth $30,000 after acquiring an additional 300 shares during the period. Great West Life Assurance Co. Can bought a new stake in Appian during the 4th quarter worth approximately $38,000. IFP Advisors Inc raised its stake in Appian by 29.6% during 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 during the period. Advisor Group Inc. raised its stake in Appian by 12.2% during the 4th quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock worth $74,000 after acquiring an additional 300 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in Appian during the 1st quarter worth approximately $85,000. Hedge funds and other institutional investors own 28.71% of the company’s stock.
Shares of NASDAQ APPN traded down $0.10 during trading on Friday, reaching $32.50. 437,359 shares of the company traded hands, compared to its average volume of 434,500. The company has a market cap of $2.10 billion, a PE ratio of -40.63 and a beta of 1.61. Appian has a 52-week low of $22.61 and a 52-week high of $43.61.
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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