Appian (NASDAQ:APPN) Announces Earnings Results, Beats Expectations By $0.24 EPS

by · The Cerbat Gem

Appian (NASDAQ:APPN – Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.24, reports. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The business had revenue of $154.05 million during the quarter, compared to the consensus estimate of $150.94 million. Appian updated its Q4 guidance to $(0.03)-$0.00 EPS and its Q4 2024 guidance to -0.030-0.000 EPS.

Appian Price Performance

NASDAQ APPN opened at $40.78 on Friday. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The company’s fifty day moving average price is $33.35 and its two-hundred day moving average price is $32.24. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -27.37 and a beta of 1.57.

Wall Street Analyst Weigh In

APPN has been the subject of several recent research reports. William Blair lowered shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. DA Davidson reaffirmed a “neutral” rating and issued a $33.00 target price on shares of Appian in a research report on Monday, October 14th. The Goldman Sachs Group dropped their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Barclays upped their price target on Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday. Finally, KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.20.

Check Out Our Latest Report on APPN

Insider Buying and Selling

In other news, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of Appian stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $33.75 per share, with a total value of $346,443.75. Following the acquisition, the insider now directly owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders bought 819,276 shares of company stock worth $24,988,101. Corporate insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in Appian in the third quarter worth about $29,000. Neo Ivy Capital Management acquired a new position in Appian during the 2nd quarter valued at approximately $65,000. Canada Pension Plan Investment Board bought a new position in Appian during the 2nd quarter worth $96,000. nVerses Capital LLC acquired a new stake in Appian in the second quarter worth $105,000. Finally, Point72 Hong Kong Ltd bought a new stake in Appian in the second quarter valued at $121,000. 52.70% of the stock is currently owned by institutional investors.

About Appian

(Get Free Report)

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.

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